Ramsden, currently chief economic adviser at the Treasury, takes up the role on 4 September for a renewable term of five years.
He replaces Charlotte Hogg, who resigned from the position in March after failing to declare her brother worked in a senior strategy role at Barclays.
Ramsden will have specific responsibility for managing the bank’s balance sheet, including the implementation of monetary policy, the provision of liquidity insurance to the financial system, the management of the government’s foreign exchange reserves, and running gold custody services.
The role also includes managing the BoE’s Real Time Gross Settlement system, which is responsible for settling £500bn of payments between banks on an average day.
Ramsden will be a member of the Monetary Policy Committee, the Financial Policy Committee, the Prudential Regulation Committee and the Court of the Bank of England.
Mark Carney, governor of the Bank of England, said: “I am delighted that Dave Ramsden has been appointed as deputy governor for markets and banking. As an outstanding public servant, he will bring a wealth of experience and economic expertise to the bank’s policy committees.”
Separately, the BoE has appointed Joanna Place as its chief operating officer, effective Thursday.
Place has been acting COO since 1 May. Prior to this, she was the bank’s executive director of human resources for three years.
She has more than 30 years’ experience at the BoE. Before becoming HR director, she led teams in banking, statistics and supervision.
The COO reports to the governor and has responsibility for the day-to-day management of the bank, including finance, technology, information and physical security, human resources, property, and procurement.
The role has status and remuneration equivalent to the deputy governors.
Carney said: “I am very pleased that Jo will be the bank’s new chief operating officer. She is exceptionally well qualified for this vital role given her breadth of policy experience and operational leadership.”
