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Gus O’Donnell rules himself out of BofE governor job

Former Cabinet Secretary Gus O’Donnell has ruled himself out of the race to be the next governor of the Bank of England, according to the Financial Times.

The deadline for applicants to replace Mervyn King, who steps down next July, is 8.30am today.

According to the FT, O’Donnell wishes to focus on other priorities and joins Frontier Economics as a senior adviser today.

O’Donnell served as the Cabinet Secretary between 2005 and 2011 and has previously worked for the World Bank and the IMF, as well as the Treasury.



FSA proposes extension of controlled function powers

The FSA has proposed extending the powers of the Financial Conduct Authority so people can be held responsible for failures outside their existing controlled function. The regulator published a consultation paper last week outlining the approach of the Financial Conduct Authority and the Prudential Regulation Authority to approved persons. The paper includes a series of […]


MM leader: Big firms should not be allowed to circumvent RDR

The FSA deserves praise for the strong statement of intent evident in this week’s Dear CEO letter to insurers, networks and IFAs. The correspondence expressed concern that deals are taking place between large distributors and providers to try and circumvent the regulator’s adviser charging rules. The FSA highlights a number of areas- provider payments for […]


Tory MP fears auto-enrolment ‘misselling scandal’

Conservative MP Harriett Baldwin has delivered a stark warning to the Government that unless it ends means tested state pensions, auto-enrolment could become the “biggest misselling scandal in history”. Speaking at a Social Market Foundation fringe event on pensions at the Conservative conference in Birmingham yesterday, Baldwin, who is parliamentary private secretary to employment minister […]

The Great British Break-Off

Despite predictions that a vote to leave the European Union would result in an economic apocalypse, UK equities have shown the market equivalent of a stiff upper lip: bouncing back, keeping calm, and carrying on. Although the road towards Brexit remains clouded in uncertainty, UK equities offer a range of opportunities to investors seeking returns […]


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  1. ken170647 youtube 8th October 2012 at 11:39 am

    According to the FT this leaves Tucker and Turner, one who turned a blind eye to Libor fixing, and one who turned a blind eye to the UK banking collapse. Great choice!

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