Could this former Sheffield University student become new £480,000 a year Bank of England boss?

A former University of Sheffield student has emerged as one of the front runners to become the new governor of the Bank of England – with a £480,000 a year salary.

Wednesday, 24th April 2019, 13:10 pm
Updated Wednesday, 24th April 2019, 13:16 pm
Andrew Haldane could be next boss of the Bank of England

The government has started the recruitment process after it was announced that current boss Mark Carney will stand down from the role next year after twice extending his time in the job.

And it could be a former Sheffield student who follows him into the hotseat.

Andrew Haldane is being tipped as one of the favourites for the post which is considered one of the country’s top economic roles and one of country’s most important jobs.

Mr Haldane, who has worked at the Bank of England for 30 years, graduated in Sheffield in 1988 with a BA in Economics.

He currently serves as chief economist at Threadneedle Street and as well as being a member of the Monetary Policy Committee and he also chairs the Government’s Industrial Strategy Council.

He has authored around 200 articles and four books on money, finance and economics and in addition to his Sheffield degree, also has a Masters from the University of Warwick.

Mr Haldane, 51, originally from Guiseley in West Yorkshire, was named by Time Magazine as amongst the world's 100 most influential people in 2014.

The role of Governor of the Bank of England is the most senior position in the Bank of England.

It is nominally a civil service post, but the appointment tends to be from within the bank, with the incumbent grooming his or her successor.

Chancellor Phillip Hammond announced this morning that Mr Carney will stand down on 31 January next year after being in the post since 2013.

His tenure was twice extended to ensure stability ahead of Brexit.

The Canadian told Sky News in an interview earlier this month there was "absolutely no" chance of him staying beyond the 31 January date, despite continued uncertainty over the UK's departure from the EU.