I must say just looking at Andrew Tyrie, the chairman of the Treasury Select Committee terrifies the living daylights out of me – let alone being interrogated by him or the sneering John Mann or the super confident Mark Garnier or the delightfully supercilious Jacob Rees-Mogg or the relentless Rachel Reeves, who conveys the impression that she eats nails for breakfast and spits rust out!
Charlotte Hoog’s CV is impeccable – economist, McKinsey, Morgan Stanley, Santander and finally fingered by Mark Carney to restructure the workings of the Bank of England. I must say I expressed surprise that the Governor saw M/S Hogg as Princess Regent to his coveted position. I felt she lacked experience in the corridors of Central bank and political power. But what do I know.
There are surely more heinous crimes than not disclosing that your brother works for Barclays Bank, though I must say it should have crossed her mind that in submitting that fact, she could have batted away any conflict of interest complications with a great deal more authority. What is a crime is to come before the Treasury Select Committee without being word perfect and supremely confident, if not arrogant. If you do appear as innocent as the day, in the wake of the credit and banking crisis, they will eat you alive. The TSC thrives on raw meat – the rarer the merrier. You will recall Sir Paul Tucker giving evidence in to the TSC enquiry on Bob Diamond’s suitability to be CEO of Barclays. His evidence was perceived to be flawed. Sir Paul is delightful, but his contribution, it was thought, fell short. He is now enjoying a brilliant sojourn at Harvard. He is a huge loss and very much Harvard’s gain!
Clearly the TSC thought M/S Hogg was an unsuitable candidate as Deputy Governor – hence her resignation. Very sad, but today there is no hiding place.