Raghuram Rajan In Race For Governor Of Bank Of England


London: Raghuram Rajan, former Governor of the Reserve Bank of India, has been named as one of the possible contenders for the top job at the Bank of England (BoE), according to a report by UK-based Financial Times.

UK Chancellor and Exchequer Philip Hammond is starting the process to select the next Governor of the Bank of England to replace Mark Carney in 2019. According to the article, the chancellor said he had already begun looking for candidates in forums such as the International Monetary Fund spring meetings in Washington.

Rajan, who is currently a Professor of Finance with the University of Chicago at the Booth School of Business, was the RBI Governor between September 2013 and September 2016. He was the first non-westerner and the youngest Chief Economist and Director of Research at the IMF. He also served as the Vice-Chairman at the Bank for International Settlements.

According to the article, others in the running were: Chief executive of the UK’s Financial Conduct Authority Andrew Bailey; Deputy Governor for Monetary Policy at the BoE, Ben Broadbent; BoE Chief Economist Andy Haldane; Director of the London School of Economics Minouche Shafik and Chief Executive of Britain’s communications regulator Ofcom Sharon White.