Türkiye's Central Bank governor officially takes office

By Erhan Cihan Unal and Hulya Omur Uylas

ANKARA (AA) - Türkiye's newly-appointed Central Bank Governor Hafize Gaye Erkan took office on Friday.

Speaking at the handover ceremony held in the capital Ankara, Erkan thanked her predecessor Sahap Kavcioglu for his efforts during his tenure.

"You [Kavcioglu] have dealt with a difficult period with your team," said Erkan, the first woman head of the bank.

Erkan, 41, earned a bachelor’s degree in industrial engineering from Istanbul's Bogazici University, graduating as valedictorian, and a doctorate in operations research and financial engineering at Princeton University.

Erkan also completed two training programs on management sciences at Harvard Business School and leadership at Stanford University.

With a number of top posts at major companies under her belt, she served as co-CEO of US-based First Republic Bank and member of the board of directors at Marsh McLennan, a services firm in fields of risk, strategy, and insurance, a managing director of investment bank Goldman Sachs, and a member of the board of jewelry firm Tiffany & Co.

Erkan, the first woman under the age of 40 to hold the title of president or CEO at one of America's 100 largest banks, made it to the “40 Under 40” lists of both San Francisco Business Times and Crain New York Business.

In 2019, Erkan was included in Crain's "Notable Women of Banking & Finance" and American Banker's "Women to Watch" list.