Ben Broadbent will succeed Andrew Sentance as external member on the Monetary Policy Committee (MPC) on 1 June 2011.
Broadbent has been senior European economist at Goldman Sachs since 2000 and managing director since 2006. He was previously assistant professor at Columbia University and has worked at the Treasury and the Bank of England.
Sentence, who has repeatedly voted recently for a Bank Rate rise, will have spent more than four and a half years on the MPC when he steps down.