Scholey and George lead Bank race
Sunday 06 December 1992
Sir David faces strongest competition for the governorship from Eddie George, deputy governor of the Bank, and from Sir David Walker, who is a Bank director, former chairman of the Savings and Investments Board and who was recently appointed deputy chairman of Lloyds Bank.
City speculation that Sir David Scholey's directorship at GEC meant that he knew he was out of the running for the Bank appointment is wide of the mark, insiders believe. He might simply have taken an opportunity that arose, and if offered the governorship, could resign his GEC job, they said.
The Prime Minister's office is expected to announce the identity of the new Governor by the end of January, although the appointment could be made before the new year.
Robin Leigh-Pemberton comes to the end of his second term as Governor on 30 June.
Insiders last week were discounting the chances of other names in the frame as also-rans. Sir Christopher Hogg, chairman of Courtaulds Textiles, is thought to be a long shot because he has no banking experience and only became a director of the Bank last year. Sir Peter Middleton, chairman of Midland Bank; Lord Alexander, chairman of National Westminster, and Sir Nicholas Goodison, chairman of TSB Group, are also well behind the front runners, partly because clearing banks are out of favour with the public and with many politicians.
The chances of Sarah Hogg, chief policy adviser to the Prime Minister, suffered following the debacle of Black Wednesday.
Sir Denis Weatherstone, the widely respected chairman of JP Morgan, the US bank, is also not thought to be a serious candidate. Although an Englishman, he recently adopted US citizenship, which would not help his chances. 'Why would he want the job?' one insider asked. 'He is one of the Great and the Good on Wall Street, not the City. He might want a job on the Federal Reserve Board, but surely not over here.'
Despite the heavy speculation, the appointment could go to a complete outsider - just as no one in the City had predicted Mr Leigh-Pemberton's appointment 10 years ago.
'It is a political appointment in the end,' said one observer. The decision is made by the Prime Minister in consultation with the Chancellor and is confirmed by the Queen.
- 1 'Not suppost to cry': 9-year-old lists the worst things about being a boy
- 2 Lee Evans announces his retirement from comedy on The Jonathan Ross Show
- 3 Iggy Azalea responds to Eminem rape lyrics: 'I'm bored of old men threatening young women'
- 4 These grandmas smoking weed for the first time are wonderful
- 5 Pastafarian former porn star Asia Lemmon allowed to wear colander in driving licence photo
Duchess of Alba dead: Billionaire Spanish duchess who lived life by her own rules, dies at 88
New York snowstorm: Death toll rises to 10 as residents battle with further snowfall
These grandmas smoking weed for the first time are wonderful
Chelsea balcony collapse: Two people dead and six injured in London
Woman opens professional cuddling shop – gets 10,000 customers in first week
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Muslims pre-date Columbus in discovering America,' says Turkish president Erdogan
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
France 'blocks' Russian sailors from boarding a warship
Former Tory PM Sir John Major says 'we would not have an NHS without migrants'
Revealed: How the world gets rich – from privatising British public services
iJobs Money & Business
Voluntary Only - Expenses Reimbursed: Reach Volunteering: Age Concern Slough a...
Voluntary Only - Expenses Reimbursed: Reach Volunteering: Crossroads Care is s...
£20000 - £25000 per annum + OTE £35,000: SThree: We consistently strive to be ...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...