A senior banker was yesterday named as the Government’s preferred candidate to oversee NHS England as extra cash is poured into the health system.
Sajid Javid, Health Secretary, wants Richard Meddings (63), former chairman of TSB to become chair of NHS England to make sure that health officials are held accountable for spending public money.
Because Mr Meddings is not an experienced healthcare professional, the choice may be controversial in the NHS. However, he was in charge of TSB’s IT meltdown that resulted almost 2 million people being locked out for several weeks. This fiasco earned it the moniker “The Truly Shambolic Bank”.
A senior Government source said ministers wanted to appoint someone from outside the health service to oversee the use of extra taxpayers’ cash to tackle record waiting lists caused by the pandemic.
Former TSB chairman Richard Meddings, 63, is the Government’s preferred candidate to oversee NHS England, to hold health chiefs to account for how they spend public money
The source told the Daily Mail: ‘He is a private sector heavyweight with masses of experience.
‘This is a critical time for the NHS and we need someone who can hold the organisation to account for the reforms needed and huge amount of taxpayers’ money going into the service.’
NHS England’s current chair, Lord Prior of Brampton, a Conservative peer and former health minister who had previously chaired several NHS organisations, is to step down next year.
Ministers want his successor to drive through reforms, oversee spending and to improve the NHS’s use of digital technology.
NHS England has a £150billion annual budget and employs 1.2million staff, and the chairman’s role pays £63,000-a-year for three days a week.
When TSB was struck by an IT crisis that resulted in almost 2million accounts being locked out for several weeks, Mr Meddings headed it. This fiasco earned it the nickname “The Truly Shambolic Bank”.
Mr Meddings, who was the chair of TSB from earlier this year to an earlier date, is also a non executive director at Treasury and Credit Suisse.
Teach First is his non-profit organisation that coordinates teacher-training and seeks to increase education standards in the most disadvantaged areas.
The chartered accountant was previously the finance chief at the Standard Chartered bank during the financial crash and served on the board of Deutsche Bank when it paid more than £5billion to settle US allegations of mis-selling mortgages.
He took over as chairman of TSB months prior to a failed computer upgrade in 2018, which resulted in millions losing access to their accounts, and 1300 people being robbed.
NHS England’s current chair, Lord Prior of Brampton, a Conservative peer and former health minister who had previously chaired several NHS organisations, is to step down next year
Mr Meddings apologised to customers for the debacle, which left TSB with a £370million bill for customer compensation and expenses. To answer questions, he was hauled in front of MPs.
After being accused by the Swiss banking giant of spying, his experience in handling crises led to him being appointed to Credit Suisse’s board.
The Health and Social Care Select Committee MPs will consider his application for the NHS England position.
The report of the candidates will be reviewed by Mr Javid, before formal approval is given.