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Alexander McQueen tipped to be the face of the new £20 note

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Alexander McQueen could be the next face of the £20 note. The Bank of England has asked the public to choose someone "of historic significance" to appear on the new currency, with speculation suggesting that the late designer could be the favourite to win, competing against the likes of British icons including Richard Attenborough and 18th century artist William Hogarth.

Alexander McQueen tragically passed away in 2010

The announcement was made this week at the Victoria & Albert museum, where the Alexander McQueen: Savage Beauty exhibition is currently being held.

"There are a wealth of individuals within the field of visual arts whose work shaped British thought, innovation, leadership, values and society and who continue to inspire today," said Mark Carney, the governor of the Bank of England. "I greatly look forward to hearing from the public who they would like to celebrate."

It comes as no surprise that Alexander has topped lists of potential contenders – the London-born designer has often been credited for helping to revolutionise the world of British fashion with his innovative and daring designs.

Kate Moss was immortalised as a hologram at one of Alexander's shows

From the theatrical duck-feathered black gown in his autumn/winter 2009 collection to the colourful floral-embellished gown in his spring/summer 2007 show, Alexander created breathtaking dresses that have become iconic in their own right.

His shows also included some of fashion's most memorable moments, from Shalom Harlow being sprayed by robots to technology immortalising supermodel Kate Moss.

In 2001 his tragic death shocked the world, but his legacy continued on as his final collection was shown at a private presentation in Paris, with critics hailing the unfinished line as "heat-breakingly beautiful" and "a requiem for a great designer".

Although the final decision will be made by Mark and a panel and announced in Spring 2016, the notes themselves will be circulated in 2020, with fans noting it could be a touching tribute to mark the 10th anniversary of the designer's tragic death.