Sunday 21 January 2018 ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares

Charlotte Hogg: Disgrace does not last long for establishment swine: new Visa job

By Tom Winnifrith | Sunday 9 July 2017


In late March of this year, Charlotte Hogg was eventually forced to resign as deputy Governor of the Bank of England for a clear breach of conflict of interest guidelines, a breach of rules she knew well as they were drawn up by her. I predicted then that she would be back and it would not take long. You could see the writing was on the wall as the establishment praised her for "doing the honourable thing". Bollocks.

She was caught breaking the rules. That is not honourable. She tried to hang on knowing that her employer would look after its own and try not to fire her as it really should have done. Eventually the heat became too intense and ahead of being fired she quit. If that is honourable I am a banana.

But when mummy and daddy are both members of the House of Lords, as was grandpa, a disgrace does not last long in this country. And thus after a three month break, it is reported in the Sunday Times today, that Hogg is set to be appointed as head of Visa in Europe, earning a 7 figure pay packet.

So Ms Hogg why are you looking for this job? Said the man from Visa. Um well I got fired from my last job for breaking strict compliance codes on declaring conflicts of interest. I was shamed and disgraced so I need a new job said little Charlotte.

Er...that does not sound so good, can you say anything more to strengthen your candidacy? Said the man from Visa.

Charlotte thought hard: "It would be be a real sign that there are no glass ceilings and a major blow for women's rights across the globe if you appoint a woman. If he is not off warning how the stockmarket will fall by 20% if we vote to leave the EU, Mark Carney will give me a great reference." The Man from Visa looked unsure.

Oh... and did I mention that Mummy and Daddy would love to take you on a tour of where they work at the House of Lords?"

When can you start Ms Hogg?

I think back to Oxford almost thirty years ago when little Ms Hogg had the room next door to mine. A Scout (the working class folks who are paid a pittance to clean up after students) mistakenly entered Ms Hogg's room ignoring the bin placed outside, a sign not to enter. Poor old Tony. He was just an old working class chap from the Council Estates. He was not given a chance to "do the honourable thing." He did not land a brand new job paying even more just a few weeks later after his "disgrace." Salome demanded his head on a plate and when Daddy is in the cabinet, mummy already in the Lords as is grandpa, Salome was bound to get her way.

I still reckon that it is a slam dunk cert that within a decade and a half Ms Hogg will, for services to banking, become the third generation of her family to grace the benches of the upper chamber. Disgrace and career ruination...that is for little people.

Filed under:

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.


Comments are turned off for this article.

Site by Everywhen