Chancellor starts search for new Bank of England governor

The UK has started its search for Mark Carney’s replacement as Governor of the Bank of England.

Carney, who took up the role in 2013, was the first man from outside the UK to head up the BoE, and Chancellor of the Exchequer Philip Hammond said he’s willing to look abroad again for his replacement.

“As we leave the European Union it’s very important that the U.K. continues to play an important role in global fora,” he told Parliament’s Treasury Committee on Wednesday. “It’s very important as well as having someone who can do a first class job at home, we have someone who commands respect in the international arena.”

The Governor of the Bank of England chairs the Bank’s three main policy committees, which oversee the UK’s monetary, financial and prudential policy.

Possible candidates for the role included Raghuram Rajan from the University of Chicago and former head of the Reserve Bank of India, BoE deputy governors Ben Broadbent and Dave Ramsden, Financial Conduct Authority boss Andrew Bailey, Sharon White, boss of the UK’s communications regulator, Santander UK Chair Shriti Vadera, and BoE chief economist Andy Haldane.

Hammond said he hopes to make the appointment in October, adding that it won’t be necessary for the next governor to stay for the full eight-year term.

Carney has delayed his exit from the BoE twice because of Brexit, though he’s said he won’t do so again and will leave at the end of January 2020.