BoE Deputy Governor to Quit Central Bank

Paul Tucker, the deputy governor of the Bank of England who lost out on the top job to the Canadian Mark Carney, has announced that he will leave Threadneedle Street in the autumn.

In a statement released on Friday morning, the Bank said Tucker would provide support to the new governor, before departing, initially to spend a period of time in US academia.

In his resignation letter to the chancellor, Tucker, one of the Bank’s three deputy governors, said: “I am grateful to you for agreeing that I should step down slightly before the end of my term as a deputy governor of the Bank of England but after I have been able to provide support to the new governor in his first few months in office.”

Tucker was appointed for a five-year term, which was due to end next February. His name is now likely to be linked with top banking jobs, such as the soon to be vacant chairman’s role at Lloyds Banking Group, which is 39% owned by the taxpayer, and could be the first of the two state-backed banks to return to the private sector.

via The Guardian

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