Yesterday, HM Treasury announced the appointment of Sarah Breeden as Deputy Governor for Financial Stability at the Bank of England (BoE). She will replace Sir Jon Cunliffe, a seasoned central bank digital currency (CBDC) expert who has held the post for the past ten years, the maximum term a Deputy Governor may serve. In November Ms. Breeden will assume her responsibilities, including oversight of the digital pound.
In her new role, Ms. Breeden will play a key role in ensuring the stability of the UK’s financial sector and represent the BoE on several national and international bodies.
She will also oversee the unit responsible for CBDC and FinTech. And beyond CBDC, as private regulated digital currencies and DLT-based settlement networks such as Fnality emerge, her role as Chair of the Financial Market Infrastructure Board is one that will impact the DLT and digital assets sectors.
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