The list of candidates to succeed Mervyn King as governor of the Bank of England is smaller than expected, with many potential candidates disqualified because of recent investigations into bank misdeeds, and two of the top contenders off the list by their own choice. Jim O'Neill, chairman of Goldman Sachs Asset Management, and Gus O'Donnell, former head of the U.K. civil service, have both declined to apply.
Bloomberg reported Monday that with the two out of the running, the field of candidates is narrower than expected. Those interested in the top job at Britain's central bank had until 8:30 Monday morning to submit a resume, a cover letter and a questionnaire that reveals any earlier political activity and possible areas where conflicts of interest may arise.
Speculation had been rife that the Goldman chief would toss his hat in the ring, but O'Neill has said he has not applied for the job. Neither has O'Donnell, who was listed just last week by bookmaker William Hill as third favorite to succeed King on his departure from the BoE in June, with odds of 5–1.
Among those who have applied are Bank of England Deputy Governor Paul Tucker, the favorite with odds of 6-4, Financial Services Authority Chairman Adair Turner (5–2) and Independent Commission on Banking Chairman John Vickers (9–1). Also among the top runners is Bank of Canada Governor Mark Carney (9–4).
