Financial Markets
6 months ago
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.
Financial Markets
6 months ago
Paul Tucker Deputy governor 1-3 favourite
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.
Financial Markets
6 months ago
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.
Financial Markets
7 months ago
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.
Financial Markets
7 months ago
The race to become next governor of the Bank of England will enter the final straight on Monday morning as applications close in the search for a successor to Mervyn King. The inside candidate, Paul Tucker, is viewed as the favourite despite his stumble during investigations into the Libor scandal.
Financial Markets
10 months ago
Jerry Del Missier, who resigned as chief operating officer of Barclays in the wake of the Libor rate-fixing scandal, will appear before MPs on Monday to be asked why he issued instructions to reduce the bank's interest rate submissions.
Financial Markets
10 months ago
'This doesn't look good, Mr Tucker," said committee chairman Andrew Tyrie half way through proceedings. Indeed it didn't. The deputy governor of the Bank of England had just confessed that it came as news to him only a few weeks ago that the Libor market was a "cesspit" of dishonesty.
Financial Markets
10 months ago
Attempts by George Osborne to pin the blame for the Libor fixing scandal on former Labour ministers seem to be undermined after deputy Bank of England governor Paul Tucker told MPs that he had not been leaned on to encourage Barclays to cut its rates.
Financial Markets
10 months ago
Sir Jeremy Heywood, the cabinet secretary, privately raised questions about the way Libor was being set during the 2008 banking crisis, according to a series of emails between him and Paul Tucker, the deputy governor of the Bank of England who is giving evidence to MPs on Monday.