John Micklethwait quits The Economist for Bloomberg News

Editor grew circulation from 1.1m to 1.6m

John Micklethwait has served as editor of The Economist for nine years (Reuters)

John Micklethwait, editor of The Economist, is to move to New York and take up a new position as editor-in-chief of Michael Bloomberg’s Bloomberg News.

In a statement, Bloomberg News said Matthew Winkler, the founding editor of the company, was assuming another role within the firm and will work with Mr Bloomberg, the former mayor of New York, when he returns for a more hands-on role next year.

“Hiring Matt Winkler 25 years ago was one of the best decisions I’ve ever made,” Mr Bloomberg said.

Mr Micklethwait has served as editor of The Economist for nine years. The weekly newspaper said he had overseen a circulation rise from 1.1m to 1.6m, including 164,000 paying digital subscribers. He was the 16th editor of the newspaper, which was founded in 1843.

He said: “It has been an enormous privilege both to have been the editor of The Economist since 2006 and to have been able to work for 27 years at such a consistently stimulating and collegial place. I am extremely confident The Economist will continue to thrive as an independent liberal voice that echoes around the world.”

The group’s chairman, Rupert Pennant-Rea, said: “I know everybody in the group will be sorry to see John go. He has steered the newspaper through some extraordinarily difficult times, both in the media industry and in the wider world, and has done so with great energy and enthusiasm.”

The Economist said it was not expecting to appoint a new editor until the end of January 2015.