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Turkiye Erdogan appoints former Goldman Sachs executive as new Central Bank chief

June 9, 2023 at 7:33 pm

Newly appointed Chief of Turkiye’s Central Bank Hafize Gaye Erkan poses for a photo during an exclusive interview in Ankara, Turkiye on June 9, 2023 [Emin Sansar/Anadolu Agency]

Turkiye’s President Recep Tayyip Erdogan has appointed a former Wall Street banker, Hafize Gaye Erkan, as the country’s new Central Bank Governor – another move that could potentially mark a policy pivot away from economic unorthodoxy, Reuters reports.

According to the report, Erkan, Turkiye’s first female Central Bank chief, was a former Managing Director at Goldman Sachs and co-CEO at First Republic Bank.

She is also Turkiye’s fifth Central Bank Governor in four years.

The Turkish lira has been extending its plunge since the re-election of Erdogan, and last traded at 23.47 against the dollar.

READ: Turkiye’s expected foreign policy with Erdogan again at the helm