Bank of England governor job to be advertised for first time

  • The post of the next governor of the Bank of England is to be advertised for the first time later this week, the UK Chancellor of the Exchequer announced on Tuesday.

    George Osborne told Parliament that Sir Mervyn King's replacement would be announced at the end of the year through "fair and open competition”.

    Advertisements for the job will run from Friday in the Economist magazine and later be published on the Public Appointments website.

    In the advert, the Treasury will state: "The new governor will lead the Bank through major reforms to the regulatory system, including the transfer of new responsibilities that will see the Bank take the lead in safeguarding the stability of the UK financial system."

    To qualify for the job, a candidate must "have experience of working in, or with, a central bank or similar institution; or will have worked at the most senior level in a major bank or other financial institution".

    An interview panel chaired by Sir Nicholas Macpherson, the permanent secretary to the Treasury, will interview the shortlisted candidates.

    The new governor will start on July 1, 2013 and be appointed for a single eight-year term.