The Panel comprises up to 34 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, 10 Panel members are appointed by the following major financial and business institutions:

  • The Association for Financial Markets in Europe
  • 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 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:

MemberRoleAppointmentAlternates
Michael Crane KCChairAppointed by the Panel 
Justin DowleyDeputy ChairAppointed by the Panel 
Jessica GroundDeputy ChairAppointed by the Panel
Chris SaulDeputy ChairAppointed by the Panel 
Mark Armour
Former CFO, RELX
 Appointed by the Panel 
Claudia Arney
Chair, Deliveroo
 Appointed by the PanelAdam Signy
William Brooks
Past President, Institute of Chartered Accountants in England and Wales
Appointed by the Institute of Chartered Accountants in England and WalesJoseph Katz, Helen Roxburgh, Simon Russell
James Brotherton
CFO, Breedon Group
Appointed by the Quoted Companies AllianceMichael Higgins, Tim Ward
Lord Deben
Chairman, Personal Investment Management and Financial Advice Association
 Appointed by the Personal Investment Management and Financial Advice AssociationGary Bottriell, Ruthven Gemmell
Joao Freitas
Senior Adviser, HBK
Appointed by the Panel
Liv Garfield
CEO, Severn Trent
 Appointed by the PanelAdam Signy
Richard Godden
Partner, Linklaters
 Appointed by the Panel 
Michael Hatchard
Retired Partner, Skadden, Arps, Slate, Meagher & Flom
 Appointed by the PanelAdam Signy
Robert Hingley
Chairman, Law Debenture
 Appointed by the Panel 
Cressida Hogg
Chair, BAE Systems
 Appointed by the Panel Adam Signy
Gordon Humphries
Chair, Association of Investment Companies
Appointed by the Association of Investment CompaniesSapna Shah, Elisabeth Scott
Richard Iferenta
Vice Chair, KPMG UK
Appointed by the Panel
Susan Kilsby
Senior Independent Director, Diageo
 Appointed by the PanelAdam Signy
Moni Mannings
Non-Executive Director, Hargreaves Lansdown
Appointed by the Panel
Rosemary Martin
Former Group General Counsel and Company Secretary, Vodafone Group
 Appointed by the Panel 
Lord Monks
Former General Secretary, The Trades Union Congress
 Appointed by the PanelKay Carberry
Barry O’Dwyer
Group CEO, Royal London
Appointed by the Association of British InsurersBronek Masojada
Stuart Ord
Co-Head of M&A, Deutsche Numis
 Appointed by UK Finance (Corporate Finance Committee)Sian Evans
Jean Roche
Fund Manager, Schroders
 Appointed by the Panel 
Mark Sorrell
Co-Head of Global M&A, Goldman Sachs
 Appointed by the Association for Financial Markets in EuropeMark Seligman
Patrick Thomson
Chair, the Investment Association
Appointed by the Investment AssociationChris Cummings
Tim Waddell
Former Vice Chairman, Corporate & Investment Banking, Bank of America
 Appointed by the Panel 
Emma Watford
Partner, Bridgepoint
 Appointed by the Panel 
Victoria Whyte
Company Secretary, GSK
Appointed by the Confederation of British IndustryPeter Swabey
Robert Wigley
Chair, UK Finance
 Appointed by UK FinanceConor Lawlor