Michael Mansoor, the executive chairman of CIBC FirstCaribbean International Bank and a former independent senator, is tipped to replace Ewart Williams as the next Governor of the Central Bank.

Williams' term of office comes to an end on July 16.

While Government has made no official announcement on filling the post, the Sunday Express understands that Mansoor's name was put forward for consideration by Cabinet.

The Central Bank governor is appointed by the President on the recommendation of the Cabinet.

Before he was selected to replace Winston Dookeran as Minister of Finance, former First Citizens chief executive Larry Howai was earmarked for the governorship, it was understood. Patrick Watson, now chairman of the Securities and Exchange Commission (SEC) and a former Government Senator, was also considered for the post.

Mansoor, a chartered accountant and former partner at Ernst & Young, was an independent senator from 1987 to 1995.

He was also president and chief executive of CIBC West Indies Holdings Ltd and held several executive positions in the ANSA McAL Group.

His profile on the Parliament's website states: "During his tenure in the Senate, Mr Mansoor was often involved in legislation related to economic, finance and general business development. In 1966, he was awarded the Open Island Scholarship in languages for being top student in Trinidad.  He then studied in Canada, receiving the chartered accountant designation in 1972, and an MBA from the University of Western Ontario in 1974 and was placed on the Dean's Honour List."

Williams is one week shy of completing his second five-year term, having been appointed to the position in 2002.

Thus far, he is the second longest serving Central Bank governor after Victor Bruce who served in that position from 1969 to 1984.

During his exit interview last Friday at the Central Bank tower in Port of Spain, Williams pointed out that he has not had the opportunity to groom a successor into office and felt that the selected individual might be at a disadvantage.

He pointed out that prior to his appointment in 2002, he had worked in the Ministry of Finance for a few weeks before assuming his governorship duties.

"I'm not sure I know why the announcement of my successor has been delayed. I spoke...with the Minister of Finance and gave him the assurance that I will be around and if my successor wants to talk to me, I would make myself available," he said.

He said he intended to leave a note for his replacement on outstanding issues.

"I am sure that anybody who accepts this job would recognise this is an elite institution with very high standards and he would certainly be striving to maintain those standards and he could rely on all the help that he wants," Williams said.