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Chancellor hires diversity specialists to find new Bank gov

PICTURED: Phillip Hammond

THE CHANCELLOR, Philip Hammond has appointed a head hunting firm that specialises in diversity to help appoint the new governor of the Bank of England.

The company, Sapphire Partners, is based in London and is run by an all-female management team. They have previously worked for the Treasure to fill high profile positions, which included placing Dame Colette Bowe and Dame Jayne-Anne Gadhia have been appointed as external members of the Bank’s financial policy committee.

Mark Carney, who currently occupies the role, is due to leave on January 31 2020 and the search is on to replace him.

Speaking to MPs on the Treasury select committee the chancellor said: “As we leave the European Union it’s very important that the UK continues to play an important role in global fora. The governor of the Bank of England plays a very significant role in the international discussions between central bank governors and I think it’s very much in our interests that we have somebody who is recognised and respected at the highest levels of the international central bank circuit.

“We know from the experience of the previous crisis that it is through cooperation between central banks that we ensure stability. Therefore, it’s very important that as well as having someone who can do a first-class job at home, we have someone who commands respect in the international arena.”

According to The Guardian, there are already a few names currently in the running to take on the role.

International candidates potentially include Ben Broadbent, the BAnk’s deputy governor for monetary policy, and Andrew Bailey, the chief executive of the Financial Conduct Authority.

Others considered include Raghuram Rajan, a University of Chicago professor who previously was the head of the Reserve Bank of India.

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