Five contenders for the top job

ANDREW BAILEY, 60

Former deputy governor at the Bank of England and now chief executive of the Financial Conduct Authority, the City watchdog.

SIR JON CUNLIFFE, 65

The Bank’s deputy governor for financial stability since 2013 and former UK ambassador to the European Union.

RAGHURAM RAJAN, 56

Governor of the Reserve Bank of India from 2013 to 2016 and chief economist at the International Monetary Fund from 2003 to 2007.

BARONESS VADERA, 56

Born in Uganda, the former investment banker became a minister under Gordon Brown during the financial crisis. She is now chairman of Santander in the UK.

SHARON WHITE, 52

A high-flying civil servant, she was second permanent secretary to the Treasury from 2013 to 2015 before becoming chief executive of the media regulator Ofcom. She is married to Robert Chote, who is head of the Office for Budget Responsibility.