The government are looking for a new governor to replace Mark Carney, as he is due to step down on 31 January 2020 after serving more than six years in the job.
The recruitment process has been launched by the government and a job description will be posted on the public appointment’s website in due course.
The job description is to say, candidates must be able to demonstrate leadership and lead “a complex and powerful financial institution,” the annual salary is £480,000.
Interviews for the top job will be conducted over the summer. The chancellor of the exchequer, Phillip Hammond MP will make the appointment in the autumn.
In a statement Hammond said, “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.”