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10 candidates to replace Mark Carney as BoE governor

With Mark Carney due to step down as governor of the Bank of England in January next year, chancellor Philip Hammond today kicked off the search for his successor

With Mark Carney due to step down as governor of the Bank of England in January next year, chancellor Philip Hammond today kicked off the search for his successor.

A variety of government and finance high flyers are in the running, though most of those favoured by punters have previous experience working for the central bank.

We share the top 10 names with the highest odds on winning according to online bookmaker Betway as shown at noon today on comparison website oddschecker. 

In what is a very open race, Wealth Manager readers will be familiar with the current bookies' favourite. 

 

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With Mark Carney due to step down as governor of the Bank of England in January next year, chancellor Philip Hammond today kicked off the search for his successor.

A variety of government and finance high flyers are in the running, though most of those favoured by punters have previous experience working for the central bank.

We share the top 10 names with the highest odds on winning according to online bookmaker Betway as shown at noon today on comparison website oddschecker. 

In what is a very open race, Wealth Manager readers will be familiar with the current bookies' favourite. 

 

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10. Alex Brazier

Odds: 25-1

An executive director for financial stability strategy and risk and a member of the BoE's Financial Policy Committee, Alex Brazier is responsible for overseeing the bank's work in protecting the wider economy from disturbances to the financial system.

He previously worked as the governor's principal private secretary, managing the transition between Mervyn King and Mark Carney.

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8. Sharon White

Odds: 20-1

Experienced civil servant Sharon White has an MSc in economics from University College London and was permanent secretary for the Treasury between 2013 and 2015, having since served as the chief executive of communications regulator Ofcom.

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8. Andy Haldane

Odds: 20-1

The BoE's chief economist, Andrew Haldane is also a member of its Monetary Policy Committee and chair of the government’s Industrial Strategy Council. He has worked at the bank since 1989 and holds a number of roles at charities and research institutions.

 

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7. Sam Woods

Odds: 16-1

BoE deputy governor for prudential regulation Sam Woods rose quickly to his current role, having joined the bank in 2013 from the Treasury before replacing Andrew Bailey as chief executive of the Prudential Regulation Authority three years ago.

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4. Minouche Shafik

Odds: 10-1 

Director of the London School of Economics Minouche Shafik previously served as the bank's deputy governor of markets and banking between 2014 and 2017. She has also held senior roles at a number of international organisations, including the International Monetary Fund.

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4. Jon Cunliffe

Odds: 10-1

Sir Jon Cunliffe is the BoE's deputy governor for financial stability and a member of its financial policy and monetary policy committees, as well as the G20 Financial Stability Board Steering Committee and the European Systemic Risk Board.

Before joining the bank in 2013, Cunliffe was the UK Permanent Representative to the European Union after serving as second permanent secretary at the Treasury until 2007.

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4. Raghuram Rajan

Odds: 10-1

Leading Indian economist Raghuram Rajan is a professor of finance at Chicago Booth university and was formerly governor of the Reserve Bank of India.

Despite stating last May that he would not be applying for the job, he still features relatively high up on the list of contenders favoured by pundits.

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3. Ben Broadbent 

Odds: 15-2

Ben Broadbent, who gained a doctorate in economics from Harvard on a Fulbright scholarship, became a deputy governor at the BoE in 2014.

He previously worked as an external member of the bank's Monetary Policy Committee and an economic adviser at the Treasury.

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2. Dave Ramsden

Odds: 7-2

David Ramsden joined the BoE in 2017 to become deputy governor for markets and banking after leaving his role as chief economic adviser to the Treasury. He also formerly headed the Government Economic Service of professional public sector economists for 10 years.

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1. Andrew Bailey

Odds: 4-9

Needing little introduction to our readers, current favourite Andrew Bailey is the current chief executive of the Financial Conduct Authority, a position he assumed 1 July 2016.

He joined its forerunner, the Financial Services Authority, in April 2011 as deputy head of the prudential business unit and director of UK banks and building societies. Previously, he held roles at the BoE, including executive director for banking services and head of its Special Resolution Unit.

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