Turkish President Appoints Hafiza Gaye Arkan as Head of Central Bank

CFO Hafiza Gaye Arkan has been appointed as the head of the Central Bank of Turkey by President Recep Tayyip Erdogan. So, who will be the new head of the Turkish bank?

The Reason Behind the Appointment

The appointment of Hafiza Gaye Arkan as the head of the Central Bank of Turkey coincides with the decline in the value of the Turkish lira. Two days ago, the currency reached 23.6 lira per dollar for the first time in history.

The Rise of a Female Leader

Hafiza Gaye Arkan is the first woman to hold this position in Turkey. Born in Istanbul in 1982, Arkan graduated from the Bosphorus University in Industrial Engineering in 2001. She completed her studies in the US and received her PhD in Operations Research and Financial Engineering from Princeton University. She also received two degree programs, one in Management Science from Harvard Business School and another in Leadership from Stanford University.

Hafiza Gaye Arkan’s Experience

With extensive experience in banking, investment, risk management, technology, and innovation, Arkan started her career in 2005 at US financial and investment services institution Goldman Sachs. She worked there for nine years before joining First Republic Bank in 2014 for eight years.

Arkan also served as Chairman of the Board of Directors of Tiffany & Co, one of the largest US jewelry companies, before joining the Board of Directors of global financial advisory company Marsh McLennan in 2022. Fortune Magazine recognized Marsh McLennan as one of the largest 500 companies in the US.

Conclusion

Hafiza Gaye Arkan’s appointment as the head of the Central Bank of Turkey is a significant move towards diversity and female representation in finance. Arkan’s extensive experience in banking, investment, risk management, technology, and digital innovation will bring value to the Turkish banking sector.

Source: RT+ Anatolia