The appointment of Charlie Bean as the Bank of England's Deputy Governor with responsibility for Monetary Policy was announced on 19 June 2008. We welcome the Chancellor of the Exchequer's positive response to our previous recommendation that the posts of the Governor of the Bank of England and of the Deputy Governors be filled by open advertisement, while noting that this process was not followed for the appointment of Charlie Bean as Deputy Governor. We are satisfied that Charlie Bean has the professional competence and personal independence required for the post of Deputy Governor of the Bank of England for Monetary Policy. We therefore welcome his appointment and wish him every success in his new post.