Tom Scholar has been named as the new permanent secretary, or most senior civil servant, in the U.K. Treasury, replacing Nick Macpherson, who is retiring at the end of March.

Scholar, who first joined the Treasury in 1992, is currently Prime Minister David Cameron’s adviser on European and global issues in the Cabinet Office.

“Tom is an outstanding civil servant, with experience of advising on some of the biggest challenges facing the country in recent years,” Chancellor of the Exchequer George Osborne said in an e-mailed statement on Friday. “It is a tribute to the British civil service that the field of candidates was so strong. Having worked closely with Tom, I know he will be a great leader of the Treasury and a worthy successor to Nick Macpherson.”

Before it's here, it's on the Bloomberg Terminal. LEARN MORE