Profiles: Sir David Walker and Lord Levene

Two of the City's most eminent grandees are fronting the company that will target bank assets controlled by the government . Sir David Walker, 69, has been the City's top regulator, a director of the Bank of England and earned millions as chairman of Morgan Stanley. His report into the private equity industry, which urged greater transparency, angered unions which had demanded more draconian curbs. Lord Levene is chairman of Lloyd's of London and is credited with turning round its fortunes. While he was Lord Mayor of London, he sold the civic Rolls-Royce and abandoned morning dress for meetings.