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Nemat Shafik:

highest paid Director in LSE history

presides over largest scandals in LSE history

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Shafik’s predecessor at the LSE, Craig Calhoun announced that he would not be seeking a second term, one week after a multi-million pound High Court lawsuit was filed against the LSE on 17 December 2015.  A new Director would need to be picked to begin nearly two years later on 1 September 2017.  As a result, a search for his vacant post is believed to have begun in 2016. 

The Brexit referendum took place 23 June 2016

It is believed that Shafik decided to quit the Bank of England just after the Brexit referendum, and she informed the LSE that she would like to apply to be its first non-interim female Director.  Three months after The Brexit referendum, the LSE on 12 September 2016, announced that Shafik had been appointed the Director of the LSE.

Shafik was appointed on a five-year contract to be a Deputy Governor of the Bank of England from 1 August 2014.  She resigned from the Bank of England on 28 February 2017.

This means that Shafik was only at the Bank of England for less than 2 years (August 2014 to June 2016) before she tried to leave her post.


Shafik’s story unfortunately continues to fuel speculation that women continue to be promoted to senior positions in government and education on the basis of social pressure and quotas and not on the basis of competence.

Shafik’s story unfortunately continues to feed into the narrative that women are ill-suited to the challenging demands of senior positions in society, when she quit her Bank of England job just when the pressures of Brexit began.

Shafik’s story unfortunately continues to feed into the narrative that when the going gets tough, women abandon ship.

Nemat Shafik

abandons Bank of England when the going got tough