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Who Will Follow Rachael Lomax?

While it seems certain that Rachael Lomax will leave her position as Deputy Governor of the bank of England in a matter of weeks, it is not certain who will be replacing her. The Times newspaper believe that the race has become something of a two horse race between Charles Bean and Paul Tucker, who both currently hold positions within the Bank of England set-up.

Paul Tucker is currently the executive director in charge of markers and Charles Bean is the Bank’s chief economists, making them both more than qualified to take up the position in due course. It is unsure whether the current Governor Mervyn King has any preference but we should find out who has won the vote over the next couple of weeks.

There may well be a potential problem for the government if Charles Bean was to win the race as he is very much seen as the Treasury’s preferred option, tending to offer opinions which are in line with the government. His potential appointment has been supported by a number of heavyweights in the financial sector, but some feel a stronger hand such as Paul Tucker may well be needed in the current climate.

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