Possible shape of new monetary committee

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The Independent Online
Gavyn Davies

Hot favourite for the second deputy governership in charge of monetary policy. Tipped to take over from Eddie George as Governor in 1998. His wife is Gordon Brown's assistant. A columnist for The Independent, he would not be tempted by a lesser position because he would have to give up a lucrative partnership at Goldman Sachs.

Mervyn King

A director of the Bank of England since 1990 and chief economist since 1991. A near certainty for the new monetary committee. Won Kennedy Scholarship to Harvard before embarking on academic career. A former member of the City Capital Markets Committee and The Securities Association.

David Currie

Professor of economics at London Business School and working Labour peer (ennobled last year). Five years ago he became one of the first batch of Treasury "wise men" or independent economics experts, a post he gave up two years ago. He worked at Hoare Govett before returning to academia in the 1970s.

Richard Portes

Professor of economics at London Business School (LBS) since 1995 and a director of the Centre for Economic Policy Research since 1983. Academic career taking in Yale, Oxford, Harvard and Paris. Has written books on international macroeconomic policy as well as economic transformation in Eastern Europe.

Tim Congdon

Economic adviser to Gerrard & National since 1989, a Treasury "wise person" for the last four years and known throughout the City as a hard- line monetarist. He was on the staff of the Times 1973-76 and then went into the City, firstly as chief economist for L Messel. Has also worked for Shearson Lehman and SBW Insurance Research.

Howard Davies

Deputy Governor of the Bank of England since 1995, tipped to head financial stability. Made headlines as director-general of the CBI 1992-95. Told the Bank of England while he was at the CBI that interest rates should be lower. Fast-track career has included stints at the Foreign Office, consultants McKinsey and the Audit Commission.

Ian Plenderleith

Executive director of the Bank of England since 1994 having first joined over 30 years ago, and with Mervyn King another near-certainty for the new monetary committee. Seconded to the IMF, then became private secretary to the Governor. Joined the board of the Stock Exchange in the 1980s and became deputy chairman last year.

Charles Goodhart

Professor of banking and finance at the London School of Economics (LSE) and a former Bank of England adviser 1969-80. Educated at Eton, Cambridge and Harvard before doing two years' National Service. Has written numerous works on monetary theory and central banking, as well as the future of EMU.

John Flemming

Has spent most of his life studying and lecturing on economics at Nuffield College, Oxford, now warden of Wadham College. A former Bank of England man, Mr Flemming was chief adviser 1980-84, economic adviser to the Governor 1984-88 and then an executive director until 1991. Chief economist at the EBRD 1991-93.

Paul Mortimer-Lee

Chief economist at Paribas, a large French investment banking house, and a former senior economics adviser at the Bank of England. While at the Bank of England he worked for the current chief economist, Mervyn King.

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