Codsall-educated Paul Tucker has landed one of the top banking jobs in Britain – as deputy governor for financial stability at the Bank of England.

He will be working alongside the governor, Mervyn King who, ironically, went to school nearby at Wolverhampton Grammar.

Mr Tucker, aged 50, described as “unstuffy, personable and very bright”, is said to balance his forays into the world of finance by reading books on history and philosophy, and by listening to classical music and jazz.

Educated at Codsall High School, where he was described as a “stellar academic student”, he was also a keen athlete and cricketer.

His appointment will certainly go down well in the City, where Mr Tucker is very highly regarded.

And it will heighten speculation that he will eventually succeed Mervyn King. For the married career banker – who has been a member of the interest rate-deciding monetary policy committee since 2002 – is said to have “future governor stamped on his head” for the last two decades.

Mr Tucker said: “I’m privileged to accept the role of deputy governor and look forward to working with the governor and the Bank team to address the financial stability challenges ahead.”