Former Reserve Bank of India Governor Raghuram Rajan is in the race for heading the Bank of England, reports said on Tuesday quoting the Financial Times. United Kingdom Chancellor Phillip Hammond will select the next governor of the Bank of England, one of the world’s largest central banks, to replace Mark Carney in 2019.
“Attracting Raghuram Rajan, the highly respected Chicago-based economist and former Reserve Bank of India governor, would be a coup, as would securing Agustín Carstens, Mexico’s central bank chief and the new general manager of the Bank of International Settlements,” the Financial Times said on Sunday according to media reports.
Hammond said that he had already begun to look for candidates at forums such as the International Monetary Fund spring meetings in Washington DC.
The Financial Times report has listed Andrew Bailey, chief executive of the Financial Conduct Authority; Ben Broadbent, deputy governor for monetary policy; Shriti Vadera, chairperson of Santander UK; Andy Haldane, Bank of England chief economist, and Minouche Shafik, director of the London School of Economics, as other candidates for the post.
Rajan is presently the Katherine Dusak Miller Distinguished Service professor of finance at the University of Chicago Booth School of Business. He was the governor of the Reserve Bank of India from 2013 to 2016.