Dame Colette Bowe and Dame Jayne-Anne Gadhia have been appointed as external members of the Bank of England’s Financial Policy Committee (FPC).

Bowe is the current chairman of the Banking Standards Board, a trustee of the IFRS foundation, a trustee of the Nuffield Foundation, and a visiting fellow at Nuffield College, Oxford. Until recently she was also a board member of the UK Statistics Authority and the Department for Transport.

Gadhia was the CEO of Virgin Money from 2007 until 2018, regularly attended the Prime Minister’s Business Advisory Council, and served as a member of the Mayor of London’s Business Advisory Board.

The Chancellor of the Exchequer, Philip Hammond, said: “The Financial Policy Committee’s importance to the protection and resilience of our economy cannot be overstated, which is why we have some of the finest talent in finance on it. The insight and experience that both Dame Colette and Dame Jayne-Anne bring will be valuable assets to the Committee’s vital work.

“I would like to thank Richard Sharp and Martin Taylor for their significant contributions to the Committee over their terms, and I wish them all the best for the future.”

Mark Carney, the governor of the Bank of England, added: “I am delighted to welcome the appointment of Colette and Jayne-Anne to the Financial Policy Committee.

“As Chair of the Banking Standards Board, Colette has led the way in developing and embedding better standards of conduct across the banking sector. Her experience in the private sector and handling some of the biggest regulatory challenges of our times will also be extremely valuable to the Committee’s deliberations in the coming years.

“Jayne-Anne brings deep and relevant experience in retail banking and her successful business career. In her public policy she has championed the transformative impact of adopting new technologies and of greater diversity within the workforce of the financial services industry. We also greatly look forward to her contributions to the work of the Committee.”