Daily Archives: June 18, 2013

Andrew Hill

If I were Charlotte Hogg, newly appointed as the Bank of England’s first chief operating officer, I would be a little worried.

It’s not that the UK’s central bank doesn’t need an extra pair of operational hands at the top. The possibility that future governors would be overloaded was one of my principal concerns about the BoE takeover of a large chunk of the now-defunct Financial Services Authority, so Mark Carney, governor-designate, has made the right move.

But chief operating officers are, as I’ve written before, eminently dispensable and their roles are usually difficult to define. 

John Gapper

Being invited for tea in China sounds like the sort of hospitable gesture that visitors come to expect. For the growing arm of Chinese bloggers – and users of Sina Weibo, China’s equivalent of Twitter – it has a different connotation.

In that context, he cha” (drink tea), means being asked to come and talk to the state security services about what you have been writing. That doesn’t mean being arrested, or even banned from Weibo permanently, but it is a shot across the bows. 

I once rashly asked the chief executive of a large listed enterprise if he was overpaid. “I’ve taken no holiday and spent every weekend of the past 18 months trying to rescue this company, breaking up my marriage in the process,” he responded drily. “So, no, I don’t think I’m overpaid.”