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BP's new group chief economist Spencer Dale. Image courtesy of Bank of England.

Spencer Dale, executive director for financial stability, strategy and risk at the Bank of England, has been tapped as BP’s new group chief economist.

Dale will take take the reigns at the end of October, BP said Monday.

Dale joined the bank in 1989 and has been on the bank’s Monetary Policy Committee for six years.

At the bank, he served as private secretary to former head of the bank Mervyn King.

Dale was also a visiting Senior Adviser in the Division of Monetary Affairs at the Board of Governors of the Federal Reserve System in the United States.

He was appointed to his current executive director role in June 2014.

“Spencer’s deep experience in central banking and his communications and financial markets background will be invaluable as we look to understand the future of energy markets globally,” BP’s Executive Vice President Strategy and Regions Dev Sanyal said.

As group chief economist, Dale will advise BP’s board and executive team on economic drivers and trends in global energy.

He will lead an international team of senior economists whose responsibilities include overseeing the preparation and presentation of the annual BP Statistical Review of World Energy and the BP Energy Outlook.

“I am delighted that I will be working in a critical sector for the global economy in one of Britain’s leading companies. I look forward to bringing my experience of macroeconomics and the public sector to the world of international energy,” Dale said.