Visa hires former Bank of England deputy Hogg as Europe head
Charlotte Hogg, who resigned from the Bank of England earlier this year after failing to declare her brother's job at Barclays, has been named the new head of Visa's Europe business.
Ms Hogg had been seen as a potential successor to Bank of England Governor Mark Carney, but was forced to quit as both deputy governor and chief operating officer of the BoE in March after it emerged she had not disclosed that her brother was head of strategy at Barclays.
Her failure to declare the potential conflict of interest was only discovered earlier this year, when the Treasury Select Committee reviewed her application for the deputy governor role. At that point she had already held the chief operating officer role at the Bank for almost four years.
The move to Visa Europe comes just over a year after Visa bought its European sister company, paying €16.5bn (£12.8bn) up front, with potential for a further €4.7bn should the business continue to perform well.
Barclays is thought to have held the largest stake in Visa Europe among the British banks, and received around £400m from the sale.
Ms Hogg will take up the new role on Oct 1, when she will also become Visa's executive vice president.
Visa Europe's chairman, Gary Hoffman, said: “Visa is entering a very exciting chapter in its history, in which the company has a significant opportunity to harness new payment innovations, offer differentiated payments services and forge new partnerships."
In its most recent quarter, ended June 30, Visa said processed transactions had jumped 13pc year on year, including Europe's results for both years.
It is one of the two dominant credit and debit card companies, alongside rival Mastercard.
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