ao link
0 £0.00
This item was added to your basket
Credit Strategy homepage
Intelligence, Insight and community for responsible professionals in credit

Chancellor launches search for next governor of the Bank of England

Chancellor Philip Hammond has confirmed the Treasury will begin the process of finding Mark Carney’s successor as governor of the Bank of England.

Carney had initially agreed to say on in his role until January 2020 in order to "support a smooth exit" from the EU. He had originally been expected to step down from the role at the end of June 2019 - two years short of the usual eight-year term, but an exchange of letters between the governor and Hammond confirmed the seven-month extension.


A Canadian national, Carney became the first non-Briton to be appointed governor in the Bank’s 300-year history.


A job description will be placed on the public appointments website later today (April 24, 2019). The annual salary is £480,000, which is unchanged since 2013.


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.


Interviews will be held over the summer, with the aim of announcing Carney’s successor in the autumn.


Potential successors include Bank of England deputy governor Ben Broadbent and chief economist Andy Haldane.


Financial Conduct Authority (FCA) chief executive Andrew Bailey is also in the running, along with former Bank of England deputy governor Nemat Shafik.


Hammond said: “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.”


Please login to continue reading this article.

Not a member?

Become a member

FREE registration. No credit card required

Register now
  • Stay up-to-date with industry news and appointments
  • Hear about events first
  • Read 1 free Premium article per month

Become a premium member

From as little as £3.48 per week

Become Premium
  • All the perks of a standard member plus:
  • Access to the entire Credit Strategy website
  • 12 months subscription to Credit Strategy Magazine
  • 25% discount to all conferences
  • Exclusive access to Premium Member only roundtables
  • 50% off award entry fees


Upcoming events

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback – an online news and information service for the UK’s commercial and consumer credit industry. is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group