View From City Road: Question of succession
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Bank of England alumni have had mixed success when moving on to staid parts of the City such as clearing banks. So it is brave of Sir David Walker, whose skills were honed in Threadneedle Street, to risk his reputation by moving from Lloyds to the cut- throat world of American investment banking at Morgan Stanley. No doubt the Americans hope for an early return from Sir David's extensive contacts and experience, although history suggests such appointments are not always as rewarding as expected.
We shall see. The question he leaves behind at Lloyds Bank is what happens to the succession there. Sir David has been favourite for chairman when Sir Robin Ibbs retires, but Lloyds high-ups have shown no great hurry to vacate their seats in recent years.
Sir Brian Pitman, the 63-year-old chief executive, recently deferred his retirement again to the end of 1996, and Sir Robin, who took over from Sir Jeremy Morse apparently on an interim basis has settled in so comfortably that it will now be hard to prise him out much before April 1997.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments