The government’s savings bank is weighing the appointment of Dax Harkins, its new interim boss, as its next permanent chief executive.
Sky News has learnt that National Savings & Investments (NS&I) is lining up Mr Harkins for the top job, with an announcement possible in the coming weeks.
Appointments to the NS&I board are made by the Treasury and signed off by the chancellor, Jeremy Hunt.
Mr Harkins, who joined the organisation in 2003, was only appointed acting CEO this month, replacing Ian Ackerley.
He was previously responsible for the development and delivery of NS&I’s business-to-business strategy, as well as overseeing its operational performance.
NS&I’s roots date back to 1861, when the government established the Post Office Savings Bank.
It now has 25 million customers and well over £200bn invested.
Read more:
Bank shares suffer globally despite Biden reassurance
UK branch of bank bought for just £1 as taxpayer protected
US authorities step in to protect deposits
Savers’ money is used by the government, which in return pays interest on Premium Bond prizes.
At the weekend, The Sunday Times reported that Mr Hunt would use this week’s Budget statement to pump out billions of pounds more in NS&I products.
An NS&I spokesperson said: “Following an appropriate process, Dax Harkins has stepped into the role of acting NS&I chief executive while the recruitment process for the permanent role is finalised.”
