Supporter male chancellor ultimately required during a depression (8)
I believe the answer is:
adherent
'supporter' is the definition.
(I've seen this before)
'male chancellor ultimately required during a depression' is the wordplay.
'male' becomes 'he' (he refers to a man).
'ultimately' indicates one should take the final letters.
'required during' is an insertion indicator.
'depression' becomes 'dent' (synonyms).
The last letter of 'chancellor' is 'r'.
'he'+'r'='her'
'a'+'dent'='adent'
'her' inserted within 'adent' is 'ADHERENT'.
(Other definitions for adherent that I've seen before include "Loyal follower, one who sticks" , "One believes in and helps spread the doctrine of another" , "Staunch follower" , "Supporter, follower" , "Weep" .)