Deadline near for Tucker’s replacement

Kasmira Jefford
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THE DEADLINE for applications for the job of deputy governor of the Bank of England is due to close today, upping speculation over who will take on the role at a time of significant change expected under the new governor, Mark Carney.

The chosen candidate will replace Paul Tucker, who resigned last month after having lost out on the top job to the former Candian central bank chief.

Tucker is set to step down in the autumn, six months before his five-year term was due to end.

His successor will be paid £260,000 a year plus a “generous pension”, and will be in charge of monetary and financial stability, where the Bank of England’s powers have grown markedly since Tucker started the role in 2009.

The job advertisement, placed on a government website and in The Economist magazine last month, called for someone who had worked at a senior level within a leading financial institution and had “an advanced understanding of financial markets and good economic knowledge”.

It also noted that “acute political sensitivity and awareness will be crucial” as well as the person having “undisputed integrity and standing”.

Bank of England official Andy Haldane and Paul Fisher have both been cited as potential candidates that fit that description.

The Treasury, which declined to comment yesterday, is responsible for arranging the role although Carney is expected to have a strong say in the process.