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Who will lead Britain's central bank after Brexit?

Reuters  |  LONDON 

By William Schomberg

(Reuters) - is expected to choose a new central chief this year to succeed Canadian Mark Carney, who will step down in June 2019, three months after the country's scheduled exit from the

Following is a summary of possible contenders to run the of England (BoE), which oversees the world's sixth-biggest economy and Britain's industry. No one has yet thrown their hat into the ring.

- the outsider insider

Widely tipped by analysts as Carney's most likely successor, Bailey reached the role of deputy of the with a focus on banks before becoming of the Financial Conduct Authority, a financial markets regulator.

During his time at the BoE, Bailey helped to steer Britain's banks through the global financial crisis, enhancing his reputation as a safe pair of hands.

However, heading the FCA - which roots out misconduct in Britain's large financial services sector - is fraught with risks. The of the British parliament's influential has criticised Bailey for withholding parts of a report into alleged misconduct by state-owned during the financial crisis. Bailey has cited privacy restrictions.

As FCA boss, Bailey sits on important panels at the that oversee banks. Although he has never been interest-rate setter, he once ran the international economic analysis team.

Bailey acknowledged the speculation about a move to the in an interview published this week. "You'll be unsurprised to know this question comes up reasonably often," Bailey told "But I've got a job and, I have to be honest with you, I have never spent my time thinking about the one I want to do next."

AND - the deputies

Broadbent and Ramsden are deputy governors for monetary policy and for markets and banking respectively, burnishing their credentials as potential successors to Carney.

Broadbent, a former who once trained as a classical pianist, is respected for his economic analysis but has less experience on banking oversight, which has become an important part of the governor's role.

Ramsden only joined the central in September although he is no stranger to the having attended 92 of its meetings in his previous role as the Treasury's

The two other deputy governors, and Sam Woods, are less likely contenders. Woods focuses mostly on regulation while Cunliffe - a former British to the EU - would be aged 66 at the start of the term which usually runs for eight years, although Carney has chosen to step down after six.

ANDY - the free thinker

The BoE's chief economist, has developed a reputation for floating unconventional ideas, including the abolition of cash as a way to give central banks more muscle over the economies they run. In 2012, he praised the anti-capitalist Occupy movement for suggesting new ways to fix the shortcomings of global has experience of both sides of the Bank, having served previously as executive director for financial stability, overseeing the risks to the economy from the banking system. But he might be seen as too much of a maverick to take the job of


The announcement of Carney, the first non-British of the in more than three centuries, was a surprise. Should minister also opt for a less obvious candidate, one name that has appeared in Britain's media is that of Sharon White, the of a telecoms regulator and who previously worked at the Treasury. The daughter of Jamaican immigrants, she has won wide praise for her high-profile roles in the public sector. Another outside contender would be Adair Turner, a former of a now defunct financial services regulator who was in the running last time around. He continues to speak about the British economy and has warned of the risks from high debt levels.


The prospect of the left-wing Party taking power in the next year or so is remote but investors are mindful that has only a small majority in parliament after last year's failed election gamble and her is split over how to leave the and his minister are socialists and have in the past proposed that the should fund investment in infrastructure, a big change from its current focus on inflation. If they were to pick the next governor, Ben Seager-Scott, at Tilney Group, an investment firm, said they might consider former members of an economic advisory committee which included U.S. academic and Nobel Prize winner and Ann Pettifor, a British who is an

(Additional reporting by and David Milliken; editing by Philippa Fletcher)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 09 2018. 17:09 IST