LONDON (Reuters) - The Bank of England has named one of its top executives to coordinate the central bank's preparations for Brexit and the impact it will have on the country's massive financial services sector.
Phil Evans was named director for financial policy within the BoE's Prudential (LON:PRU) Policy Directorate (PPD) and he will be responsible for co-ordinating work across the bank relating to withdrawal from the European Union, the BoE said.
Evans previously served as the Bank's international director and spent a period working as an adviser at the European Commission on secondment, according to his entry on LinkedIn (NYSE:LNKD).
In his previous role, he was one of several top BoE officials who received a confidential bank report in 2015 on the possible shocks for Britain if the country decided to leave the EU, which voters did in June this year. The existence of the report was inadvertently leaked to a newspaper.
Britain's banking sector, which accounts for about 10 percent of the country's total economic output, is nervously waiting for clarity on what kind of access Britain will have to the EU's single market once it leaves the bloc.
Banks and other financial services firms could also see changes to the rules and regulations that govern how they work as a result of Brexit.
Bank of England Governor Mark Carney said before the referendum that a vote to leave the EU represented the biggest domestic risk to the country's financial stability, earning him the opprobrium of supporters of Brexit.
In another appointment announced on Wednesday, the BoE said Vicky Saporta had been appointed executive director for prudential policy at the PPD, moving from her previous role as director for financial policy.