Job advert placed for new Bank of England Governor

An advert will be placed in this week's issue of The Economist to find a replacement for the Bank of England's Governor Sir Mervyn King. This is according to newspaper reports. The appointment, made by the Queen on the advice of the Prime Minister and Chancellor, has never before been advertised in an open contest. Paul Tucker, one of the Bank's deputy governors, had been seen as a strong favourite for a promotion and to take the annual salary of £305,368. However, this may now not happen according to The Times, they say his prospects were lowered during the Libor scandal. The advert is expected to ask candidates to have “an advanced understanding of financial markets” and “undisputed integrity and standing.” The closing date for applications is October 8. September 14, 2012