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 on Sky News:
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.”

Related posts:

EY hands staff £20m bonus pot after pandemic bounce-back Stamp duty break extension prompts biggest monthly house price rise since 2004 Heinz to make ketchup in UK again in £140m factory investment Shares in Sainsbury’s pop amid £7bn takeover speculation ‘Nationwide crisis’: Energy bills set to rise further in New Year, providers warn Regulator investigates £1.9bn National Express-Stagecoach merger ‘Safety our highest priority’: Sainsbury’s and Waitrose ask shoppers and staff to keep wearing face coverings Thames Water plots £1.5bn cash call to turn reputational tide Athlete tracking start-up Sportlight scores with £4m fundraising House prices rise again: ‘It seems as though nothing short of an apocalypse can bring the property market to its knees’ Greggs sees sales jump 27.1% as shoppers seek cheaper meals Falling household spending power is painful part of the cure for inflation