Lord O'Donnell to 'think about' running for Bank of England Governor job The former cabinet secretary said Sir Mervyn King's job would be "fascinating" and "huge," particularly once the role is enhanced with extra regulatory powers as planned. "I'm going to think about that and make a decision nearer the time," said Lord O'Donnell in an interview with The House magazine. It's a fascinating job, it's a huge job, it's a much bigger job than Mervyn's doing at the minute. He added: "You'd need to think about how you manage that and what support you'd need. I haven't made up my mind about this yet. The process hasn't even started yet. Sir Mervyn's second five-year term as Governor expires in June next year but the interest in his successor is already intense. Paul Tucker, the Bank's deputy Governor, is considered the front-runner, along with Lord Turner, the chairman of the Financial Services Authority. Two weeks ago George Osborne moved to douse the rumours. There will be a proper process for appointing the next Governor. But that has not begun and will not until the autumn," he said.