The Panel comprises up to 36 members, representing a spread of expertise in takeovers, securities markets, industry and commerce. The Chair, Deputy Chairs and up to 20 other Panel members are appointed by the Panel on the recommendation of the Nomination Committee. In addition, 12 Panel members are appointed by the following major financial and business institutions:
- The Association for Financial Markets in Europe (with an additional appointee also for its Securities Trading Committee)
- The Association of British Insurers
- The Association of Investment Companies
- The Confederation of British Industry
- The Institute of Chartered Accountants in England and Wales
- The Investment Association
- The Pensions and Lifetime Savings Association
- The Personal Investment Management and Financial Advice Association
- The Quoted Companies Alliance
- UK Finance (with an additional appointee also for its Corporate Finance Committee)
The Chair and at least one Deputy Chair are designated as members of the Hearings Committee. Of the other members appointed by the Panel, up to 12 Panel members are designated upon appointment as members of the Code Committee and up to eight Panel members are designated upon appointment as members of the Hearings Committee. The Panel members appointed by the bodies listed above become members of the Hearings Committee without further designation.
No person who is or has been a member of the Code Committee may simultaneously or subsequently be a member (or an alternate of a member) of the Hearings Committee.
The current Panel members are as follows:
| Member | Role | Appointment | Alternates |
|---|---|---|---|
| Michael Crane QC | Chair | Appointed by the Panel | |
| Justin Dowley | Deputy Chair | Appointed by the Panel | |
| Chris Saul | Deputy Chair | Appointed by the Panel | |
| Mark Armour Former CFO, RELX | Appointed by the Panel | ||
| Claudia Arney Chair, Deliveroo | Appointed by the Panel | Adam Signy | |
| Mark Astaire Chairman, Barclays Corporate Broking | Appointed by the Association for Financial Markets in Europe (Securities Trading Committee) | Mark Seligman | |
| William Brooks President, Institute of Chartered Accountants in England and Wales | Appointed by the Institute of Chartered Accountants in England and Wales | Joseph Katz, Helen Roxburgh, Simon Russell | |
| Stuart Chambers Chairman, Anglo American | Appointed by the Panel | Adam Signy | |
| Lord Deben Chairman, Personal Investment Management and Financial Advice Association | Appointed by the Personal Investment Management and Financial Advice Association | Gary Bottriell, Ruthven Gemmell | |
| Liv Garfield CEO, Severn Trent | Appointed by the Panel | Adam Signy | |
| Richard Godden Partner, Linklaters | Appointed by the Panel | ||
| Jessica Ground Global Head of ESG, Capital Group | Appointed by the Panel | ||
| Michael Hatchard Former Partner, Skadden, Arps, Slate, Meagher & Flom | Appointed by the Panel | Adam Signy | |
| Michael Herzog Co-CEO, Partner, Davidson Kempner European Partners | Appointed by the Panel | ||
| Robert Hingley Chairman, Law Debenture | Appointed by the Panel | ||
| Susan Kilsby Senior Independent Director, Diageo | Appointed by the Panel | Adam Signy | |
| James Laing Managing Director, Rothschild & Co | Appointed by the Panel | ||
| Martin Mannion Head of Trustee Services, John Lewis Partnership Pensions Trust | Appointed by the Pensions and Lifetime Savings Association | ||
| Rosemary Martin Group General Counsel and Company Secretary, Vodafone Group | Appointed by the Panel | ||
| Lord Monks Former General Secretary, The Trades Union Congress | Appointed by the Panel | Kay Carberry | |
| Barry O’Dwyer President, Association of British Insurers | Appointed by the Association of British Insurers | Bronek Masojada | |
| Stuart Ord Head of M&A, Numis | Appointed by UK Finance (Corporate Finance Committee) | Sian Evans | |
| Alan Porter Group General Counsel and Company Secretary, M&G | Appointed by the Confederation of British Industry | Peter Swabey | |
| John Reizenstein Non-Executive Director, Beazley | Appointed by the Panel | ||
| Elisabeth Scott Chair, Association of Investment Companies | Appointed by the Association of Investment Companies | Sapna Shah | |
| Keith Skeoch Chair, the Investment Association | Appointed by the Investment Association | Chris Cummings | |
| Mark Sorrell Co-Head of Global M&A, Goldman Sachs | Appointed by the Association for Financial Markets in Europe | Mark Seligman | |
| Tim Waddell Vice Chairman, Corporate & Investment Banking, Bank of America | Appointed by the Panel | ||
| Tim Ward CEO, Quoted Companies Alliance | Appointed by the Quoted Companies Alliance | Michael Higgins, James Brotherton | |
| Emma Watford Partner, Bridgepoint | Appointed by the Panel | ||
| Robert Wigley Chair, UK Finance | Appointed by UK Finance | Conor Lawlor |