Ex-Nationwide chair Roberts in frame to head Bank of England Court

Mr Roberts would bring decades of experience in financial services to the Court during one of the most crucial periods in the Bank's recent history.The appointment of the chair of Court requires the approval of the Queen and the recommendation of the chancellor, Nadhim Zahawi, and Boris Johnson, the outgoing prime minister.

There have been reports of tensions in recent months between Mr Bailey and the government over the Bank's struggle to rein in soaring inflation. The Court is the Bank of England's governing body, and is responsible for setting its objectives and strategy, and ensuring the effective discharge of the Bank's functions and the most efficient use of its resources.Among the requirements for the role, according to the Treasury, is"the ability to scrutinise and challenge the actions of the executives of the Bank in running the institution".

According to a recruitment advertisement placed online by the Treasury, the selection panel for the chair includes Baroness Harding, Charles Roxburgh, one of the Treasury's top officials, and Terry Miller, senior independent director of the housebuilder Galliford Try.

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