The Bank of England has hired Huw van Steenis, a former analyst at Morgan Stanley and Schroders, as an adviser to Mark Carney, the BoE Governor.
The said appointment is expected to last around six to nine months. It will see van Steenis giving advice on issues including the transition to a low carbon economy, the growth of cross-border financial flows, and the effect of new financial technologies.
Carney stated: “Huw van Steenis’s vast experience of both the asset management and banking industry, together with his track record of taking the long-term view on the major structural forces driving the economy, will be invaluable to us in developing our thinking on what the financial system of tomorrow might look like. I greatly appreciate his decision to move into public service and look forward to working with him.”
The new adviser was most recently served as the global head of strategy at Schroders, an asset manager. Before that, he was the global head banks and diversified financial research at Morgan Stanley, an investment bank.
This week, Andy Haldane, the chief economist of the bank suggested that it may begin using Spotify to understand the moods and behaviours of people.
In a speech that was delivered earlier this week, he discussed the potential data tools which could likely be “expanded to improve the bank’s understanding of the economic and financial system”.
Haldane cited both computer games and Spotify downloads as possible sources of data.