Wanted: candidate for Britain's most important unelected post The political squabbling is likely to make any candidate for the job think twice before picking up Friday's copy of The Economist and applying for the £300,000-a-year job at the head of the 300-year old institution. However, anyone brave enough to put pen to paper and throw their name into the hat will already have had to have proved themselves in a high-pressure, financial services releated role. One of the leading candidates, Paul Tucker, already has a good feel for the demands of the top job given his position as deputy governor of the Bank. Despite the recent controversy over his involvement in the Libor misreporting scandal, Mr Tucker is well-regarded in the City and by international peers. Lord Turner, chairman of the Financial Services Authority, is a candidate well aware of the bear pit he will be entering if he puts his name forward as expected. One of the main reasons the process is expected to attract such scrutiny is because of the sweeping powers handed to the successful candidate. As the job advert will state: "The new governor will lead the Bank through major reforms to the regulatory system, including the transfer of new responsibilities that will see the Bank take the lead in safeguarding the stability of the UK financial system." As Britain's top banker and regulator, the choice of the new governor will say a lot about the future direction not only of the Bank of England, but of the entire banking system.