Thursday , May 23 2019

UK kick-starts search for Carney successor at BOE

Bloomberg

The UK formally kick-started its search for Mark Carney’s successor as the governor of the Bank of England (BOE), a role that’s been linked to both senior people within the institution and ex-central bankers around the world.
Canadian-born Carney was the first foreigner to run the BOE, and Chancellor of the Exchequer Philip Hammond has said he’s willing to look abroad again, emphasising the need for a replacement with international stature.
“As we leave the European Union it’s very important that the UK 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.”
A number of names have been linked to the role, most notably Raghuram Rajan, the University of Chicago professor who previously led the Reserve Bank of India.
BOE deputy governors Ben Broadbent and Dave Ramsden, as well as Financial Conduct Authority boss Andrew Bailey, have also been mentioned.

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