Mr O’Neill, one of the best known figures in the City, is set to join the board of the Department of Education in the autumn. This is from the Telegraph…
A formidable economist, Mr O’Neill is the former chairman of Goldman Sachs Asset Management, who coined the term “Brics”.
He spent nearly 20 years at the bank, managing hundreds of billions of pounds of wealth, before departing in April.
His link to education stems from when he founded a charity for disadvantaged children, Shine, in 1999.
Despite his new role, Mr O’Neill has been critical of UK economic policy, saying in January that the contraction in GDP in the last quarter of 2012 showed that “policy has been on the wrong path”. However, he has sounded more positive about Britain’s hopes for economic recovery of late.
The son of a postman, he grew up in Manchester before studying geography and economics at Sheffield University.
After a long career at the Wall Street bank, he rose to the very top, becoming its chief economist before being made chairman of Goldman Sachs Asset Management (GSAM) three years ago.
…A Department for Education spokesman said: “Jim O’Neill has been invited to join the DfE Board in a non-executive capacity, and we expect him to take up his post in September.”
Any thoughts on this? Is it a smart move to bring someone of Jim O’Neill’s capabilities and track record helping disadvantaged children through the charity Shine into the DfE? Or do you have doubts? Please share your thoughts in the comments or on twitter…