London launches search for new Bank of England boss

Mark Carney became governor of the Bank of England in July 2013 and will leave on Jan 31 next year. (Reuters pic)

LONDON: The British government on Wednesday launched its search for the next governor of the Bank of England, with Mark Carney due to step down early next year.

Finance minister Philip Hammond praised Carney as a “steady hand” who steered the economy through “a challenging period” following Britain’s 2016 Brexit vote.

Canadian national Carney, 54, took up the post on July 1, 2013 and will leave on Jan 31 next year, having extended his tenure twice due to Brexit uncertainty.

“In today’s rapidly evolving economy the role of governor is more important than ever,” said Hammond, whose official title is chancellor of the exchequer.

“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.”

The Treasury said it will employ a specialist head hunter to find Carney’s successor, with interviews expected over the summer ahead of an autumn appointment.

The annual salary for the position stands at £480,000 (US$622,400).