Chancellor launches search for next Bank of England boss

Mark Carney

Wednesday, April 24, 2019

The search for the next Bank of England governor is underway, after current boss Mark Carney announced he will stand down next January.

Mr Carney took up the post in July 2013, and will step down on January 31, having extended his tenure twice.

Chancellor Philip Hammond praised Mr Carney's "steady hand" in the role and said it was "vital" to find the right successor to ensure the ongoing strength of the economy.

Applicants must commit to an eight-year term in the £480,000 a year role, with candidates welcomed "irrespective of age, gender, ethnicity, sexual orientation or disability".

The Treasury will employ a specialist head hunter and said the recruitment process has been designed to ensure the "most qualified candidate is appointed from the broadest possible pool of applicants".

It expects to hold interviews over the summer, with the appointment being made in the autumn.

"Finding a candidate with the right skills and experience to lead the Bank of England is vital for ensuring the continuing strength of our economy and for maintaining the UK's position as a leading global financial centre," Mr Hammond said.

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