Nemat Shafik

British-American economist, former Deputy Governor of the Bank of England, current director of the London School of Economics

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"Dame Nemat Talaat Shafik, DBE is an Egyptian born British-American economist who served as the Deputy Governor of the Bank of England and serves as the director of the London School of Economics since September 2017.


Born in Alexandria, Egypt, Shafik studied at the University of Massachusetts-Amherst and the London School of Economics before receiving her doctorate from the St Antony's College, Oxford. Shafik served as the Permanent Secretary of the Department for International Development from March 2008 to March 2011, when she went on to serve as the Deputy Managing Director of the International Monetary Fund.


She joined the Bank of England as its first Deputy Governor on Markets and Banking and the Member of the bank's Monetary Policy Committee on 1 August 2014 and resigned in February 2017. On 12 September 2016, it was announced that Shafik had been appointed as the next Director of the London School of Economics, replacing sociologist Craig Calhoun. She took up the post on September 1, 2017.


Shafik joined the World Bank after Oxford and filled a variety of roles starting in the research department where she worked on global economic modelling and forecasting and then later on environmental issues. She moved to do macroeconomic work on Eastern Europe during the transition and in the Middle East where she published a number of books and articles on the region's economic future, the economics of peace, labour markets, regional integration, and gender issues.


Shafik became the youngest ever Vice President at the World Bank at the age of 36.


She initially went to the British Government's Department for International Development (DFID) on secondment as Director General for Country Programmes where she was responsible for all of DFID's overseas offices and financing across Africa, the Middle East, Asia, Latin America, and Eastern Europe. She was appointed as DFID's Permanent Secretary in 2008 where she managed a bilateral aid programme in over 100 countries, multilateral policies and financing for the United Nations, European Union and international financial institutions, and overall development policy and research – responsible for 2400 staff and a budget of £38 billion (about US$60 billion) for 2011–2014. During her tenure, DFID was described by the OECD independent peer review as "a recognised international leader in development".


An economist by training, she has held a number of senior positions in international organisations. She has also spoken, taught and published extensively on globalisation, emerging markets and private investment, international development, the future of Middle East and Africa, and the environment.


Dame Nemat Shafik currently serves on a number of boards including the Middle East Advisory Group to the International Monetary Fund, and the Economic Research Forum for the Arab World, Iran and Turkey. She is also active on the board and as a mentor to the Minority Ethnic Talent Association which supports under-represented groups to advance to senior positions in the civil service.


She has chaired several international consultative groups including: the Consultative Group to Assist the Poor, the Energy Sector Management Assistance Programme, the Global Water and Sanitation Program, Cities Alliance, InfoDev, the Public-Private Infrastructure Advisory Facility, and the Global Corporate Governance Forum. She was instrumental in launching the Africa Infrastructure Consortium.


In 2009, she was named "GG2 Woman of the Year" at the 11th Annual GG2 Leadership & Diversity Awards, run by the Asian Media and Marketing Group. Shafik was made a Dame Commander of the Order of the British Empire (DBE) in the June 2015 Queen's Birthday Honours." (1)

From Wikipedia