. . . the big money double
WE MUST think next about doubling up on one or both of two big future events, the Barclays Handicap, and — the ultimate City classic — the Threadneedle. Sir Peter is coming to the City, as a deputy chairman of Barclays, to take charge of its markets and investment banking division, where until the other day a former Chancellor was working. (There must, I now think, have been an element of tact in Nigel Lawson's resignation.) That puts Sir Peter into the betting to succeed Sir John Quin- ton as chairman of Barclays. The other big event comes up in two years' time, at the end of Robin Leigh-Pemberton's second term as Governor of the Bank of England. By then the Old Lady will be about to celebrate her 300th birthday — a respect- able age. Governors are appointed by the Queen on the advice of the Prime Minister, who may or may not then be Mr Lawson's successor as Chancellor. If he looked for a banker of appropriate authority, he would not have far to seek. His trouble would be to prevent a previous Prime Minister from explaining that she'd told him so.
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