Hammond starts search for Mark Carney at Bank of England | Business News


The Chancellor is starting the process of finding a new governor of the Bank of England as Mark Carney's extended tenure near its end.

The Treasury said in a statement for the job, which carries a salary of £ 480,000 a year along with a host of perks, would be posted on Wednesday morning.

Mr Carney has been in the role since post-crisis July 2013 and is due to go down on 31 January next year.

His tenure was twice extended to ensure stability ahead of Brexit.

The Canadian Sky News in an interview earlier this month there was "absolutely no" chance to stay beyond the 31 January date, rather than uncertainty over the UK's departure from the EU.

Governor of the Bank of England, Mark Carney.

The Governor of the Bank of England talks to Sky Brexit and its potential implications for the economy.

Mr Carney dragged into the political mire – with Brexit-supporting critics accusing him of bias and calling for his resignation.

In his statement, Philip Hammond said: "His steady hand is helped steer the UK economy through a period of stress and expectation.

:: Read: The Governor of the Bank of England

"And under Mark's leadership the Bank of England has been safer and more accountable."

He added: "In today's rapidly evolving economy, the role of governor is more important than ever.

"Finding a candidate with the right skills and experience to lead the Bank of England is vital for securing the UK's position as a leading global financial center."

In the job description for the role, the Treasury said it offers "irrespective of age, gender, ethnicity, sexual orientation or disability".

It said they must be ready to commit to an eight-year term.

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