Outsider tipped for Bank job
Thursday 23 March 1995
Despite the ill-fated choice of Rupert Pennant-Rea, a former jounalist, who was forced out of the Bank on Tuesday by a sex scandal, officials said they would still prefer another non-Bank person as his replacement.
"We are looking for someone with a different perspective, a lot more variety in life than as a career central banker," said an executive involved in the search for a successor.
The Court of the Bank of England, equivalent to its board of directors, yesterday offered Mr Pennant-Rea an ex gratia payment of £45,000. Because Mr Pennant-Rea, who resigned over an affair with a journalist, is not allowed under the terms of his former employment to take another job for three months, the Bank decided to pay him for this period, as a proportion of his £180,000-a-year salary.
Nobody has been approached yet for the job, sources confirmed yesterday, as the discussions have only just begun among the key centres in the selection process.
Number 10 will be putting forward its short-list, as will the Treasury and Eddie George, Governor of the Bank of England. "Once we have some real names in the frame, chaps will talk to chaps in the best British way. The motto this time is better get it right than get it fast," said one source.
While there are several internal candidates from the Bank of England, notably Mervyn King, chief economist, and Pen Kent, its chief of financial infrastructure, the focus of the discussions was on possible outsiders. A hot tip in the City yesterday was Rosalind Gilmore, who recently joined Lloyds to head its regulatory service, from the Building Society Commission.
- 1 If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
- 2 Senior British politicians tell David Cameron: When dead children are being washed up on beaches – it's time to act
- 3 Make your voice heard: Sign The Independent's petition to welcome refugees
- 4 Refugee crisis: Aylan's life was full of fear - in death, he is part of 'humanity washed ashore'
- 5 German police forced to ask public to stop bringing donations for refugees arriving by train
Senior British politicians tell David Cameron: When dead children are being washed up on beaches – it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Britain to take more refugees as Cameron bows to pressure after more than 100,000 back our campaign
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£20000 - £40000 per annum + OTE + Incentives + Benefits: SThree: Established f...
£20000 - £25000 per annum + OTE 40/45k + INCENTIVES + BENEFITS: SThree: The su...
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...