City stockbroker Cenkos has named Anthony Hotson as its new chief executive.
Subject to approval from the Financial Conduct Authority, Hotson will take the helm of the company from 1 August.
Durkin is set to resign from the board and from the position of chief executive on 1 August, and he will leave the company on 31 December.
"I have every confidence in Anthony in leading the company going forward as the company's new chief executive," said chairman Gerry Aherne.
"Anthony is exceptionally well placed to undertake the role and his wealth of experience will be a valuable asset for the company in his new executive role.
"Having been a director of the company since May 2012, Anthony has previously been involved in reviewing the firm's structure, governance and processes, including the impact that changing regulations may have, and he has been actively involved with the management of the company in this respect."
Along with his roles in the economics division, the governor's office and the money markets division at the BoE, Hotson also previously worked for management consultant McKinsey & Company and investment bank SG Warburg. He also teaches financial history at Oxford and Cambridge universities.