Former Virgin Money CEO one of two women on FPC

Dame Jayne-Anne Gadhia
Dame Jayne-Anne Gadhia

Two of the most prominent women in UK banking are to join have been appointed to the Bank of England’s financial watchdog.

Former Virgin Money boss Dame Jayne-Anne Gadhia has been named as an external member of the Bank’s Financial Policy Committee (FPC), days after being recognised in the Queen’s New Year’s honours list.

The Treasury also said Banking Standards Board chair Dame Colette Bowe will join the FPC as it boosts the ranks of senior women at the Bank after facing criticism for missing its own targets on gender diversity.

The Treasury revealed that 20 of the 42 applicants for the FPC roles were women, with five and three men reaching the shortlist.

“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,” said Chancellor Philip Hammond.

“The insight and experience that both Dame Colette and Dame Jayne-Anne bring will be valuable assets to its vital work.”