Chancellor launches search for next Governor of the Bank of England

The process to appoint the next Governor of the Bank of England commences

Today (24 April) the Chancellor will announce the start of the process to appoint the next Governor of the Bank of England.

The current Governor, Mark Carney, took up the role on 1 July 2013 and will step down on 31 January 2020.

The Chancellor of the Exchequer, Philip Hammond, said:

"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 ensuring the continuing strength of our economy and for maintaining the UK’s position as a leading global financial centre.

"I look forward to working with Mark Carney over the remaining months of his term as Governor. His steady hand has helped steer the UK economy through a challenging period and we are now seeing stable, low inflation and the fastest wage growth in over a decade. And under Mark’s leadership the Bank of England has been at the forefront of reforms to make our financial system safer and more accountable."

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. The Governor also represents the Bank internationally, including at the G7, G20, Bank for International Settlements and the International Monetary Fund.

As with all Treasury appointments, the recruitment process for the next Governor has been designed to ensure that the most qualified candidate is appointed from the broadest possible pool of applicants.