HM Treasury News Release
93/97                                            31 July 1997
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      APPOINTMENTS TO THE SECURITIES AND INVESTMENTS BOARD
                                
The Chancellor of the Exchequer and the Governor of the Bank of
England today announced the formal appointment of Howard Davies
as Chairman of the Securities and Investments Board (SIB) for a
five year term from 1 August 1997.

Lord Runciman has been reappointed as a Deputy Chairman for a
further year, also from 1 August 1997.

Mr Davies will be responsible for carrying forward the
establishment of a single regulatory body to oversee all the
financial markets.

David Clementi, today appointed as Deputy Governor of the Bank
of England, has also been appointed a Director of the Securities
and Investments Board.

NOTES TO EDITORS

   1.Further information on the appointment of David Clementi to
the Bank of England can be obtained from No 10 Downing Street
Press Office on 0171 930 4433.

   2.The Chancellor announced to Parliament on 20 May that Howard
Davies has accepted an invitation to become the next Chairman of
the Securities and Investments Board.

   3.Appointments to the SIB Board are made jointly by the
Chancellor of the Exchequer and the Governor of the Bank of
England.

   4.All Board members are appointed in a personal capacity and
do not serve as representatives of particular interests or
associations. The members of the Board from 1 August are as
follows (with the dates of retirement or expiry of their
appointments shown in brackets).

Howard Davies - Chairman
(31 July 2002)

Lord Runciman - Deputy Chairman
(31 July 1998)
Chairman, Andrew Weir and Co Ltd
Chairman, Runciman Investments Ltd


Professor Robert Jack CBE
(31 October 1997)
Chairman, Scottish Mutual Assurance plc
Deputy Chairman, Scottish Metropolitan Property

John Kennedy
(30 November 1998)
Chairman, The Law Debenture Corporation plc
Director, Angerstein Underwriting Trust plc

Dr Oonagh McDonald
(30 November 1998)
Research and Management Consultant
Director, The Investors Compensation Scheme
Non-executive Director, Saga Group Ltd

Lord Stewartby
(30 November 1997)
Chairman, Throgmorton Trust plc
Deputy Chairman, Standard Chartered plc

Andrew Winckler - Executive
(31 December 1998)

Brian Williamson CBE
(31 October 1997)
Chairman, Gerrard & National Holdings plc
Director, Bank of Ireland

John Young CBE
(31 December 1997)
Nominated Member, Council of Lloyd's and Lloyd's Regulatory Board
Director, Darby Group plc
Director, Gartmore Venture Capital Trust

   5.If you have access to the Internet you can find this
information at http://www.hm-treasury.gov.uk. Material on other
Treasury issues can also be found at this site.