Jeremy Hunt, who was appointed Britain’s chancellor of the Exchequer on Friday, is a former foreign minister and a pragmatist from the ideological center ground of conservative politics. The selection of a moderate with government experience appeared intended to restore calm to financial markets.

Prime Minister Liz Truss of Britain named him to replace Kwasi Kwarteng, whom she had fired the same day, cutting short his tenure after just 38 days on the job and after he had introduced a tax plan that backfired and rattled financial markets.

The dizzying speed of the turnover in a post that is normally associated with measured, and sometimes staid, authority sent a jolt through British politics, sharpening criticism of Ms. Truss from within her own party.

Speaking at a news conference, Ms. Truss called Mr. Hunt “one of the most experienced and widely respected government ministers and parliamentarians — and he shares my convictions and ambitions for our country.”

She said that he would “drive our mission to go for growth, including taking forward the supply-side reforms that our country needs,” and that he would deliver the government’s new fiscal plan at the end of the month.

Mr. Hunt, who studied philosophy, politics and economics at Oxford University and was head boy at one of Britain’s leading private schools, was among the candidates to lead the party in 2019, finishing second to Boris Johnson, who then became prime minister.

When Mr. Johnson himself resigned in July, Mr. Hunt ran again but was eliminated in the first round of the leadership fight, gaining just 18 votes from conservative colleagues. He went on to endorse Rishi Sunak, Mr. Johnson’s chancellor, for leader. The contest was eventually won by Ms. Truss.

Mr. Hunt served as health secretary from 2012 to 2016. During the pandemic, he was chair of a parliamentary health committee, using the platform to scrutinize and at times challenge government health policy.

Before that, he had served as culture secretary and handled the 2012 London Olympics and Paralympics, which were widely viewed as successes.

Mr. Hunt is the fifth person to hold the office of chancellor of the Exchequer in just over three years, a reflection of the relative instability of governing politics during that period.

By contrast, Gordon Brown, a Labour chancellor, served for a decade until 2007, while George Osbourne, who steered a policy of austerity in an effort to reduce Britain’s national debt, was in the job for six years, serving until 2016.

Like his predecessors, Mr. Hunt will move into No. 11 Downing Street, a terraced house next door to the prime minister’s.

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