The deputy governor of the Bank of England (BOE), Paul Tucker, has made his intention to leave the BOE public, though the exact date of his departure from the bank will be confirmed in due course of the year.
Tucker’s departure s likely to be in the autumn after he has provided support to the new Governor, Mark Carney, through the first months of his term in office.
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Until he leaves the Bank, Tucker will also continue to be an active member of the G20’s Financial Stability Board (FSB) and of other international committees.
After Tucker leaves the BOE, he plans to spend a period of time in academia in the US.
Outgoing Governor, Sir Mervyn King, said: "Paul’s contribution to the Bank, to monetary policy, and more generally to public policy, both in the UK and in the world as a whole has been enormous. Paul has more to contribute in the future and I am very pleased that he will support my successor, Mark Carney, as he settles into the Bank."
Incoming Governor, Carney, said: "It has been an enormous privilege to work closely with Paul at the FSB over the past several years. Paul has contributed immeasurably to a series of critical financial reforms, including policies to end Too-Big-to-Fail and to build more resilient derivative and funding markets. I wish Paul every success in the next phase of his career and look forward to maintaining our close dialogue on how to build a more resilient financial system that more effectively serves the needs of the real economy."
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