ENTERTAINMENT

Former Goldman Sachs banker Richard Sharp, formerly Rishi Sunak's boss, will be the next chairman of the BBC


Multimillionaire ex-Goldman Sachs banker Richard Sharp, who was formerly Rishi Sunak's boss, will reportedly be the next BBC chairman.

According to Sky News, Mr Sharp is due to be announced on Thursday for the £ 160,000 per year role.

Prime Minister Boris Johnson has reportedly signed the three or four days a week selection. The Queen must also sign the appointment on the advice of Minister of Culture Oliver Dowden.

Mr Dowden is likely to make the appointment "in the next few days or early next week," Whitehall sources say.

Mr Sharp, a multimillionaire listed on the Sunday Times Rich List and a long-term Conservative Party donor, will be grilled by the Digital, Culture, Media and Sport (DCMS) Committee next week if confirmed as a preferred candidate .

He will replace outgoing chairman Sir David Clementi, who has held the position since April 2017 and is due to step down in February.

Ex-Goldman Sachs banker Richard Sharp, who was formerly Rishi Sunak's boss, will reportedly be the next BBC chairman

Mr. Sharp has spent much of the past year as an unpaid advisor to the Chancellor of the Exchequer (pictured), whose boss he was during his long career at Goldman Sachs

Mr. Sharp has spent much of the past year as an unpaid advisor to the Chancellor of the Exchequer (pictured), whose boss he was during his long career at Goldman Sachs

The former investment banker has spent much of the past year serving as an unpaid advisor to the Chancellor of the Exchequer, whom he was once superior during his long career at Goldman Sachs.

The former investment banker has adjusted to the top job on the BBC governing body: Who is Richard Sharp?

Richard Sharp will take over as chairman of the BBC at one of the most turbulent times in history.

The 64-year-old former chairman of major European investment at financial services giant Goldman Sachs will reportedly replace Sir David Clementi when he resigns in February.

He will work closely with new CEO Tim Davie as the company faces scrutiny for equal pay, diversity, free TV licenses for over 75s and competition from streaming services like Netflix and the coronavirus crisis.

The banker, who studied philosophy, politics and economics at Oxford, has more than 30 years of experience in the financial sector and 23 years at Goldman, where he reportedly mentored current Chancellor Rishi Sunak.

Previously, he worked in both commercial and investment banking for JP Morgan.

Mr. Sharp, former Royal Academy chairman and retired trustee emeritus, has reportedly been an informal advisor to Mr. Sunak since the beginning of the Covid-19 pandemic and played a key role in setting up the government's £ 1.57bn Government Cultural Restoration Fund.

From 2013 to 2019 he was also a member of the Financial Policy Committee of the Bank of England and a member of the board of the Center for Policy Studies, the think tank founded by Margaret Thatcher in the 1970s.

Mr Sharp, who is believed to have amassed a fortune north of £ 100million during his career, also served on the Bank of England's Financial Policy Committee for six years before stepping down in March last year.

At the beginning of this year he was tasked with a parachute to monitor the economic rescue package of the Federal Chancellor Covid.

According to colleagues, the 64-year-old has a reputation for a sharp, independent thinker and a secure pair of hands.

He reportedly donated hundreds of thousands of pounds to the Tory Party at a fundraising dinner in 2013, despite not being considered a Conservative party member.

In addition to his financial work, Mr. Sharp also has experience in the arts.

He was chairman of the Royal Academy of Arts Trust for several years and founded Kyra, a Gen-Z YouTube channel.

Mr. Sharp, who has yet to comment on the appointment, entered the race for the role earlier this year after former Chancellor George Osborne left the job.

Former editor of the Daily Telegraph, Lord Charles Moore of Etchingham, who was once considered a leading competitor, also withdrew from the race for "personal" reasons.

Veteran broadcaster David Dimbleby had reportedly considered throwing his hat in the ring.

According to reports earlier this year, Mr Johnson, with whom Mr Sharp worked closely during his tenure as Mayor of London, is in favor of appointing a Tory-backing chairman for the station.

According to reports, Mr Johnson is said to want to quit, which he believes is a growing leftist tendency for the company.

The job advertisement went online last year with a higher salary to attract a wider range of applicants.

The prestigious role will be to maintain the broadcaster's independence and oversee the functioning of the organization.

Commenting on the reports, Julian Knight, Chairman of the Committee on Digital, Culture, Media and Sport (DCMS): & # 39; It is disappointing to see this news about the next BBC Chairman ahead of an official announcement by the Department of Digitally leaked. Culture, media and sport.

'The committee previously expressed some concerns about the appointment process and called for it to be fair and transparent.

"The DCMS Committee looks forward to interviewing the preferred candidate for the position in a pre-appointment hearing next week at a critical time for the BBC on their role and the future of public service broadcasting in general."

The prestigious role will be to maintain the broadcaster's independence and oversee the functioning of the organization

The prestigious role will be to maintain the broadcaster's independence and oversee the functioning of the organization

Mr. Sharp will replace Sir David Clementi, who has held the position since April 2017 and is scheduled to step down in February

Mr. Sharp will replace Sir David Clementi, who has held the position since April 2017 and is scheduled to step down in February

The appointed Chairman of the BBC Board of Directors – the company's governing body that meets at least 11 times a year – will work closely with recently appointed CEO Tim Davie.

Mr Davie has already launched a social media crackdown on BBC employees demanding not to "express personal opinions on public policy, political or controversial issues".

He's also exploring new funding models for the company, while speculation ministers might try to replace the traditional royalty model in the future.

The new appointment is intended to replace current Chairman Sir David Clementi, who will step down from his position in February.

Sir David was a British businessman and former Deputy Governor of the Bank of England before taking on the role of the BBC.

He was preceded by Baroness Rona Alison Fairhead – a general manager who recently served as Secretary of State in the Department of International Trade.

She was the last chair of the previous governing body, the BBC Trust, before it was abolished in 2017.

The Trust has been replaced by the current governing body, the BBC Board.

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