Meaning

noun the British cabinet minister responsible for finance

noun the person who is head of state (in several countries)

noun the honorary or titular head of a university

originFrom Anglo-Norman or Middle English chaunceler, chanceler, canceler (“chief administrative or executive officer of a ruler; chancellor, secretary; private secretary, scribe; Lord Chancellor of England; officer of the ruler's exchequer; a high administrative or executive officer (for example, a deputy or representative of a bishop; the head of a university)”), from Old French cancelier, chancelier…

Etymology from Wiktionary, CC BY-SA 3.0