The UK government announced that it has hired London-based diversity executive search firm Sapphire Partners to recruit a new governor for the Bank of England. This is the first time that the government has hired a recruitment firm for the role of governor for the Bank of England.

The current governor Mark Carney will step down from his role on 31 January 2020 after having been in the role since 2013. The government has already posted a vacancy on its public appointments website. In the description, it asks for candidates to be able to commit to an eight-year term. The annual salary listed is listed as £480,000.

Sapphire Partners describes itself as a firm that actively promotes women and is run by five female partners.

According to the BBC, the use of a recruitment firm for the first time implies Chancellor of the Exchequer Philip Hammond is keen for this to be a wide sweep of talent in London and is also under pressure to consider more female candidates. Sapphire's appointment could be seen as an attempt to assuage criticism over gender diversity.

The Governor of the Bank of England chairs the Bank’s three major policy committees – the Monetary Policy Committee, the Financial Policy Committee and the Prudential Regulation Committee.

Hammond said he believes the role of governor is "more important than ever" due to a "rapidly evolving economy".

"Finding a candidate with the right skills and experience to lead the Bank of England is vital for ensuring the continuing strength of our economy and for maintaining the UK's position as a leading global financial centre,” Hammond said.

Panel interviews are expected to take place in central London in Summer 2019. The appointment will begin on 1 February 2020.

Sapphire Partners did not yet respond to a comment request from Staffing Industry Analysts at the time of publication.