Two finalists are left in the search for President William Powers Jr.’s replacement after New York University administrators announced that Oxford University Vice Chancellor Andrew Hamilton would be their next president.

Hamilton, whom many considered to be the front-runner for the UT presidency, will succeed NYU president John Sexton in January 2016, NYU administrators announced last week. The UT System Board of Regents interviewed Hamilton earlier this month, as did a small search committee.

At this point, Greg Fenves, executive vice president and provost of the University, and UT-Dallas President David Daniel are the remaining finalists in the search for the next UT president, according to sources directly involved with the search committee.

Fenves, who has held his provost position since October 2013, served five years as dean of the Cockrell School of Engineering. As the University’s chief academic officer, Fenves is closely connected to Powers, whose relationship with the Board of Regents has been tumultuous at times.

Daniel, who earned his bachelor’s, master’s and doctorate in engineering from UT, became UT-Dallas’ president in 2005. During his tenure there, UT-Dallas’ enrollment has grown from 13,000 to 23,000 students, and the university has raised more than $360 million in private funds.

Before joining Oxford in 2009, Hamilton worked as a chemistry assistant professor at Princeton University and then as chemistry professor and department chair at the University of Pittsburgh. He also served as provost of Yale University from 2004 until 2008.

Hamilton said he has been a “keen observer” of NYU over the years and was honored to have been considered in the NYU presidential search.

“I am delighted to be selected as NYU’s 16th president,” Hamilton said in a statement. “I am looking forward with great eagerness to working with NYU’s faculty, students, administrators, and staff, and to joining a university that is so manifestly energetic, innovative, and successful.”

Hamilton is the second to drop from the System’s handful of prospective candidates. The list had previously included Joseph Steinmetz, the executive vice president and provost at The Ohio State University, but he withdrew his candidacy in February.

Following the Board of Regents’ interviews with Daniel, Fenves and Hamilton, UT System Chancellor William McRaven recommended the board defer naming a finalist or list of finalists until later this month. The Board must vote to name one or more finalists and then wait 21 days before making an official appointment.