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Former Central Bank of the Republic of Türkiye (CBRT) governor Hafize Gaye Erkan has joined Canadian financial holding company Fairfax Financial Holdings as president of banking and insurtech, according to the company’s 2025 financial report.
The company said Erkan joined in late 2025 and will initially oversee Fairfax’s banking operations while helping identify growth opportunities in insurance technology, commonly known as insurtech.
Erkan was appointed governor of the Central Bank of the Republic of Türkiye (CBRT) in June 2023, becoming the first woman to lead the institution.
Her tenure coincided with a shift toward more orthodox economic policies introduced by new Treasury and Finance Minister Mehmet Simsek, as the central bank gradually raised interest rates to 50% after years of low-rate policies amid high inflation.
She stepped down in February 2024 after about eight months in office and was succeeded by Fatih Karahan, who currently holds the position.
In its statement, Fairfax emphasized Erkan's experience in international banking, noting that she held senior roles at Goldman Sachs and later served as co-chief executive officer of First Republic Bank before becoming governor of the Central Bank of the Republic of Türkiye.
Founded in 1985, Fairfax is a Canadian financial holding company whose core businesses include property and casualty insurance, reinsurance operations and investment management linked to its insurance portfolio.
The company reported record net earnings of $4.77 billion.
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