George Osborne is poised to advertise for a new Bank of England governor in the autumn to replace Sir Mervyn King.
George Osborne is expected to advertise in the autumn for a new governor of the Bank of England, with one potential candidate last week ruling himself out of the running.
It is understood that the post will probably be advertised in the autumn, with Sir Mervyn King due to step down as governor in June 2013 and the list of potential candidates for the post seemingly shrinking.
Mark Carney, Bank of Canada governor, last week sought to put an end to speculation that he would be the ideal successor to Sir Mervyn King, saying “I’m interested in who they pick but very focused on my post at the Bank of Canada.”
When asked whether it was a “no or never” situation, he replied: “both”.
Paul Tucker, deputy governor for financial stability, was the firm favourite to take over, but his chances appeared to diminish when he was implicated in the Libor rigging scandal by Barclays.
Mr Tucker maintains that he did not instruct the bank to manipulate its Libor submissions in 2008.
Lord Turner, chairman of the Financial Services Authority, was considered a favourite for the job but he was also dragged into the controversy over Libor-rigging as head of the City regulator.
One would-be governor told The Sunday Times that "I think they are trying to broaden the field", adding that "they are running out of options".
A spokesperson for the Treasury said that it was adhering to the selection process set out in April, when the Treasury indicated that the role would be publicly advertised, with a decision expected towards the end of the year.
But, the spokesperson added that the process had not begun yet.
telegraph.co.uk
George Osborne is expected to advertise in the autumn for a new governor of the Bank of England, with one potential candidate last week ruling himself out of the running.
It is understood that the post will probably be advertised in the autumn, with Sir Mervyn King due to step down as governor in June 2013 and the list of potential candidates for the post seemingly shrinking.
Mark Carney, Bank of Canada governor, last week sought to put an end to speculation that he would be the ideal successor to Sir Mervyn King, saying “I’m interested in who they pick but very focused on my post at the Bank of Canada.”
When asked whether it was a “no or never” situation, he replied: “both”.
Paul Tucker, deputy governor for financial stability, was the firm favourite to take over, but his chances appeared to diminish when he was implicated in the Libor rigging scandal by Barclays.
Mr Tucker maintains that he did not instruct the bank to manipulate its Libor submissions in 2008.
Lord Turner, chairman of the Financial Services Authority, was considered a favourite for the job but he was also dragged into the controversy over Libor-rigging as head of the City regulator.
One would-be governor told The Sunday Times that "I think they are trying to broaden the field", adding that "they are running out of options".
A spokesperson for the Treasury said that it was adhering to the selection process set out in April, when the Treasury indicated that the role would be publicly advertised, with a decision expected towards the end of the year.
But, the spokesperson added that the process had not begun yet.
telegraph.co.uk
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