Bank of England looking for a new boss

THE government has launched the recruitment process for a new governor for the Bank of England.

The current governor Mark Carney will step down on 31 January 2020 after more than six years in the post.

For the first time, the government has hired a recruitment firm to help with the search.

A job description will be placed on the public appointments website later. The annual salary is £480,000 this has been unchanged since 2013.

The job description will say that candidates must be able to demonstrate the ability to lead “a complex and powerful financial institution”.

Interviews will be held over the summer and the appointment will be made by the government in the autumn.

“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 chancellor said in a statement.