Hafize Gaye Erkan, the first female chairman of the Central Bank of Turkey, will head the institution, according to a decree signed by President Recep Tayyip Erdogan.
According to Resmi Gazete, this is the first time a woman has been appointed to the position. Erkan holds a doctorate from Princeton University in the United States. Moreover, she received additional education in finance from Harvard University and Stanford University.
Erkan worked at Goldman Sachs Investment Bank and was a board member of First Republic Bank. The previous head of the Central Bank, Shahap Kavcioğlu, will head the Banking Regulatory Council.
Earlier, the Grand National Assembly of Turkey held the inauguration of Erdogan.