MORE than 170 of Weydon’s year 10, maths and business studies students were treated to a “fascinating and inspiring” talk from Joanna Place, chief operating officer at the Bank of England in Weydon’s award-winning Medici Theatre.

Joanna was appointed chief operating officer in July having previously fulfilled numerous senior positions at the UK’s central bank, including head of the bank’s customer banking division where she played a key role in its response to the financial crisis.

The speaker was impressed by how many students had worked in the financial services during their work experience week and was interested to learn that over half of the students had their own bank accounts. She explored why they chose to put their money in a bank and discussed how important trust, safety, convenience and interest rates were in encouraging the public to invest their money in the banking system.

Her informative talk began with an explanation of the key roles of the Bank of England and how it differs from commercial banks. She touched on its regulation of commercial banks, its role as lender of last resort, the printing of bank notes, checking for counterfeits, its role in controlling interest rates, its function in moving money around and its social responsibility.

The students were very interested to hear about the underground vaults at the Bank of England that hold gold bullion. Each bar is worth half a million pounds sterling and they weigh more than two-and-a-half stone each.

Joanna explained how when she joined the Bank of England 32 years ago, she was in the minority as a woman. The Bank of England now employs more than 4,000 people, of which 50 per cent are under 35, 50 per cent are women, 20 per cent are from ethnic minorities and they also employ apprentices aged between 16 and 24 years old.

She agreed that the image portrayed by the media does not reflect their diversity and would encourage anyone interested in economics to apply. She stressed that she has benefited from the bank’s flexible working arrangements as she has brought up her three teenage children while continuing to work at senior level.

Joanna described her own journey from a comprehensive school in Derby, her BA (Hons) in economics from Fitzwilliam College, Cambridge University, to her senior level role in the City of London.

She encouraged students to focus on what they enjoy because that is usually what they will be best at. She believes that her upbringing, in a large family with brothers, going to a mixed school and having a sense of pragmatism has helped her reach the senior role she now enjoys.

After a short tour of the school, Joanna said that she was very impressed with the facilities at Weydon and particularly with the quality of the students who asked some very challenging and perceptive questions on topics such as interest rates and Brexit.

Ali Molan, careers co-ordinator at Weydon thanked Joanna for a “truly inspirational careers talk” and hoped that it had inspired all students to consider the financial services as a career.

Jackie Sharman, Weydon principal, added: “This was an inspirational talk by Joanna and one which was honest and informative. She gave us a great insight into the culture and workings of the Bank of England. We are grateful to Joanna for giving us her time.”