US regulator could become next Bank of England chief

Former US Commodity Futures Trading Commission chairman Christopher Giancarlo may be eyeing up the top job at the Bank of England, according to reports.

With incumbent governor Mark Carney’s term due to come to an end at the beginning of 2020 after an extension to support a smooth Brexit process, potential candidates are lining up for the role.

Reports had suggested current FCA chief executive and former Prudential Regulation Authority boss Andrew Bailey could be in line for the position, but sources have now told Financial News that American regulator Giancarlo was considering following in Canadian-born Carney’s footsteps.

At the time of writing neither Bailey nor Giancarlo had commented publicly on whether they would accept the role, but the Times reports that, as Britain prepares to leave the EU, the paper understands prime ministerial hopeful Boris Johnson would warm to a seasoned foreign candidate with international experience and clout.

Giancarlo became familiar with the EU and the Bank of England during his two year tenure running the US CFTC during discussions over whether British and American clearing houses should be subject to tighter controls.

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