Newspaper article The Evening Standard (London, England)

As We Expected, Gus Goes for Gold

Newspaper article The Evening Standard (London, England)

As We Expected, Gus Goes for Gold

Article excerpt

LORD (Gus) O'Donnell, who has ruled himself out of the race to be the next Governor of the Bank of England, was being offered by the bookmakers at odds of no more that 7/4 as recently as July. Anyone who backed him then will now be feeling rather foolish, especially after the former cabinet secretary and ex-Treasury mandarin landed an advisory (and probably rather well-paid) job this summer with Canada's Toronto-Dominion bank. The suspicion is he'd rather pick up a few more of those lucrative consultancy roles rather than re-enter the glare of the public sector. As City Spy asked in June: "The question is: will the annual [pounds sterling]300,000 stipend as Bank Guv'nor be enough to satisfy O'Donnell when he could earn more in the private sector?" Now we have the answer: No.

[bar]TO be fair to Lord O'Donnell, here's what he said in April when discussing his potential candidacy for the job: "I am very strongly of the view that when you think about how important someone is as a contender, you look at the betting odds. …

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