Erdogan appoints former top manager of American banks as head of Turkey’s Central Bank

Turkish President Recep Tayyip Erdogan appointed Hafize Gaye Erkan, who previously worked at US banks Goldman Sachs and First Republic, as head of the country’s central bank. About it informs newspaper Financial Times.

Erkan will become the first woman to head the Turkish central bank. Previously, this post was held by Sahap Kavcioglu, who, after his resignation, will head the department of banking regulation and supervision.

The newspaper admits that the Turkish President’s decision to appoint Erkan may indicate Erdogan’s plans to change course and move to more traditional policies in order to fight inflation and attract investors.

Erkan was born in 1982. She graduated from the Bosphorus University, then received a doctorate in financial engineering and applied mathematics from Princeton University. She worked in management positions at First Republic for eight years, and at Goldman Sachs for 10, clarifies Bloomberg.

On June 1, the Turkish Central Election Commission summed up the final results of the presidential elections, in accordance with Erdogan won 52.18% of the vote, and his rival Kemal Kılıçdaroglu – 47.82%. On June 3, Erdogan took the oath in the Turkish Grand National Assembly (parliament). The first major change after his re-assuming office was the renewal of the cabinet. Erdogan replaced almost the entire composition of the government, including the heads of key departments. Then it became knownthat he intends to submit to Parliament a proposal to amend the Constitution.