Paul Tucker, deputy governor of the Bank of England, told MPs on Tuesday that Britain's banking system would not be safe until top bankers could acknowledge they were taking too many risks.
The job of deputy governor of the Bank of England is to be advertised in the coming days, kickstarting speculation about who will take on the £260,000-a-year role at a time of sweeping regime-change expected to take place under the new governor, Mark Carney.
"People put their money in. I want them to get their money out," said David Cameron on Thursday, apparently endorsing the view that the public is more interested in getting its money back from Royal Bank of Scotland than seeing the bank privatised as soon as possible.
Paul Tucker, the deputy governor of the Bank of England who lost out on the top job to the Canadian Mark Carney, has announced that he will leave Threadneedle Street in the autumn.
Paul Tucker, the Bank of England's deputy governor, has accused investment banks of spending the last 20 years trying to dodge the rules.
Paul Tucker’s rise to the governorship of the Bank of England was thwarted after he was embroiled in the Libor scandal that led Barclays Plc’s three most senior executives to stand down following a record fine.
Paul Tucker, the Bank's deputy governor and the only Threadneedle Street insider considered a frontrunner for the job, seemed to have blotted his copybook earlier this year when he was forced to appear before the Treasury select committee to explain his role in the Libor-fixing scandal.
In terms of gender balance at the top, the Bank of England is as bad as UK plc. The nine members of the monetary policy committee (MPC) are all men, as are the 11 members of the financial policy committee (FPC). Threadneedle Street has three governors and 10 other executive directors, of whom only one – the HR boss, Catherine Brown – is a woman. Lady Rice is the only non-male among the dozen members of the Bank's court of governors.
Paul Tucker, deputy governor of the Bank of England, has warned the worst could still be to come for the banking sector as he called for an end to the get-rich-quick culture of the City.
That's about right.