Economist Jim O’Neill linked with Bank Governor job
MANCHESTER-born economist Jim O’Neill is reportedly one of the candidates in the frame to succeed Sir Mervyn King as Governor of the Bank of England.
Mr O’Neill, who has retained close links with Manchester despite his global role with investment bank Goldman Sachs, has been approached by Treasury officials over the key position, the Sunday Telegraph said.
Born in Burnage and educated at state school, the 55-year-old is a former director of Manchester United and was heavily involved in the unsuccessful bid by the Red Knights group to buy the club from current owners the Glazer family.
He regularly returns to Manchester to watch the football and was heavily involved in setting the economic footpath of the city, through the Manchester Independent Economic Review, MIER.
He is currently chairman of Goldman Sachs Asset Management, and formerly its chief economist.
In financial circles, he is known for coining the phrase BRICs – an acronym for the fast-track economies of Brazil, Russia, India and China.
Sir Mervyn King will retire next summer. a formal process to find his successor is not expected to begin until the autumn.
The appointment will ultimately be made by Chancellor George Osborne. Other leading contenders named in the media include former Cabinet Office supremo Sir Gus O’Donnell.
