The London School of Economics' board of governors is meeting right now to confirm who will take over as its next director, with Financial Services Authority chairman Sir Howard Davies the hotly tipped candidate. A decision is expected to be made by 6:30pm tonight.
If Sir Howard confirms his departure it would be a blow to the City and the government. He set up the FSA four years ago and is highly regarded, though his reputation has suffered in recent months as a result of the collapse of Equitable Life, the mis-selling scandals surrounding pensions and investment schemes and the split-capital investment trusts controversy.
If the appointment is confirmed he will take over at the LSE from Anthony Giddens, who helped write Tony Blair’s textbook The Third Way and has been LSE director since 1997.
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