Jim ONeill ex Goldman banker to join Treasury

Jim O’Neill the former Goldman Sachs economist  is to join the UK Treasury.

Jim O'Neill the former Goldman Sachs economist is to join the UK TreasuryMr O’Neill coined the term ‘BRICs’- Brazil, Russia, India and China to refer to developing economies.

Chancellor George Osborne tweeted that the retiring Goldman Sachs Asset Management chairman is to become the Commercial Secretary at the Treasury.

Mr Osborne chose Mr O’Neill to “make devolution and the Northern Powerhouse happen”.

English cities will get powers on housing, transport, planning and policing under Mr Osborne’s plans.

Greater Manchester – which will take on the powers when electing a mayor in two years – should become a blueprint for other large cities, he said.

A Cities Devolution Bill will be in the Queen’s Speech later this month.

Mr O’Neill is chairman of the RSA City Growth Commission, which claimed the economy has seen 5% less growth per year between 2000 and 2010 as a result of “chronic” underinvestment outside London.

It urged an overhaul of transport, housing and broadband provision and more house building.

Mr O’Neill also recently headed a UK government appointed review team calling for global antibiotic research and was one of the “Red Knights” hoping to restore Manchetser United Football Club to financial independence when the Glazers took the club over with borrowed money.

May 20, 2015  Tags: , , , ,   Posted in: Business Growth, Business Win, Growing Economy, New Business Development, Uncategorized, Winning Business

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