Carney, a longtime ally of outgoing Prime Minister Justin Trudeau, told the Financial Times on Tuesday that he was considering a bid to lead the Liberal Party and stand as prime minister.

“I’ll be considering this decision closely with my family over the coming days,” Carney said.

An official announcement would make him the first candidate to replace Trudeau after the prime minister announced his intent to resign following an election to decide the next leader of the Liberal Party.

Carney was the head of the Bank of Canada from 2007 to 2013, after which he became chairman of the United Kingdom’s central bank until 2020.

Since then, he has served as a close adviser to Trudeau on economic issues, earning high praise from the prime minister.

Despite his experience in high-ranking government positions, he has never held elected office.

Carney is only one of multiple candidates widely seen as capable of marshaling the necessary support to take the Liberal Party’s helm.

Former Deputy Prime Minister Chrystia Freeland, the Cabinet member whose resignation was the final nail in Trudeau’s coffin, has also been floated as a possible successor.

She characterized her resignation last month as an act of protest against the government’s penchant for “political gimmicks” while failing to address the threat of staggering tariffs from the United States under the next administration.

During his own resignation speech on Monday, Trudeau expressed a sense of regret that Freeland did not stay on as deputy minister and help overcome the obstacles facing Canada.

“I’d really hoped that she would agree to continue as my deputy prime minister and take on one of the most important files that not just this government, but this country is facing — but she chose otherwise,” Trudeau said of Freeland during his resignation speech.

Transport and Internal Trade Minister Anita Anand is also seen as a possible new leader for the Liberal Party.

Anand is an experienced veteran of the Trudeau government, having previously served as a minister overseeing defense, public services, and the treasury.

Many Liberal insiders value Anand’s versatile skillset and experience leading multiple sectors of the country.

Whoever is chosen to replace Trudeau as leader of the Liberals faces a vicious uphill battle to win back voters feeling scorned by the outgoing government.

Polls show the Conservative Party holds approximately 44% of the vote in a hypothetical election, against the Liberal Party’s 20.9%.

Conservative Party leader Pierre Poilievre is widely believed to be a shoo-in for the prime minister’s office in the October elections.