Andrew Bailey has emerged as the frontrunner to become the Bank of England’s next governor.
The head of the Financial Conduct Authority’s appointment could be announced as early as Friday, the Financial Times reported.
The next governor is due to start in early February, after incumbent Mark Carney steps down on January 31.
Mr Carney took up the post on July 1 2013 and extended his tenure twice.
He said in 2016 that he would stay for an extra year after his tenure ended - until June 2018 - but was then extend his term by another seven months to help ease disruption from Brexit at a critical time.
The Canadian's time at the helm has been marred over the past two years, with the governor and the Bank's Monetary Policy Committee (MPC) coming under heavy criticism over their handling of communications surrounding Brexit.
In particular, the Bank's doomsday scenario report on Brexit led to accusations of collusion with the Government and "implausible" forecasts.
In April, former MPC member David "Danny" Blanchflower said that Mr Carney was leaving a "poisoned chalice" for his successor, claiming the role had become too politicised.
The Treasury recruited a specialist headhunter to fill the £480,000-a-year post, with candidates expected to commit to at least eight years on the job.
Other contenders included London School of Economics director Minouche Shafik, Santander UK chairwoman Shriti Vadera and former member of the US Federal Reserve's board of governors Kevin Warsh.
