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‘We seek a governor of integrity’: BoE advertises for top job

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The next governor of the Bank of England will be found in the coming months after the post is advertised for the first time on Friday.

After months of speculation on who might be the next leader of the UK central bank, after Mervyn King announced his decision to retire in June 2013, the role will be open to applicants by the end of this week.

The job spec indicates the changes ahead for the Bank of England: “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.

“The successful candidate must demonstrate that they can successfully lead, influence and manage the change in the Bank’s responsibilities, inspiring confidence and credibility both within the Bank and throughout financial markets.”

The advert also asks only for those candidates with experience of working at a central bank or similar institution, or who have worked at the most senior level in a major bank. However, it emphasises he or she must be “a person of undisputed integrity and standing”, indicating bank leaders embroiled in recent scandals in the sector will not be considered.

Potential candidates can view the details of the position and how to apply in The Economist. Chancellor George Osborne said a short list of candidates will be interviewed by Sir Nicholas MacPherson and the new governor will be announced before the end of the year.

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