Former governor of the Bank of England Sir Mervyn King was presented with a £10,000 painting of himself as a leaving present when he stood down from the role.
Sir Mervyn, now Lord King, who is an Aston Villa fan, also received a £597 silver napkin ring and a £2,505 sculpture of German playwright and scientist Johann von Goethe when he retired on July 1.
The £13,000-worth of gifts were all paid for by the Bank of England, which is owned by the country.
Sir Mervyn, attended Warstones Primary School in Wolverhampton and went on to the Grammar School there, before he became a professor of investment at the University of Birmingham at the age of 29.
Three events were also held to mark his departure from the Bank, which cost more than £10,000. An evening reception on June 26 cost £4,672, while a £3,450 dinner was held the following day. Another dinner was held on June 28 at a cost of £3,800, with the flowers and invitations for the three events coming to £1,501.
The information emerged following a freedom of information request, with the Bank of England insisting the gift of the silver napkin ring is normal for all departing senior directors.
The Bank added: “As with previous retiring governors, the bank commissioned a portrait of governor King, and presented him with a copy. This cost £10,000.
“In addition, the governor received a replica bust of Johann von Goethe. This cost £2,505.
“These costs were met by the bank, with the approval of the court of directors.”
Sir Mervyn, who was paid £305,000 a year as governor – a role he had held since 2003 – reportedly has a pension of £198,200 a year.