Abbey National executive chairman Lord Burns has been a solo captain at the helm of the financial services group since the former chief executive, Mr Ian Harley, resigned in July after the bank issued a profit warning.

Mr Burns became chairman of Abbey National in February and is also chairman of Glas Cymru (Welsh Water) and a non-executive director of British Land Plc.

British Land owns 50 per cent of the 400-acre business, leisure and residential centre at Cherrywood in Dublin.

Dunloe Ewart owns the other half of the asset. Last week Dunloe shareholders rejected a proposal to buy British Land's stake in the site for €63.8 million.

After studying economics at the University of Manchester, Lord Burns began his career at the London Business School in 1965 where, in 1979, he became Professor of Economics.

The following year he was appointed head of the British Government Economic Service and in 1991 became Permanent Secretary to the Treasury where he stayed for seven years.

He was made a life peer when he left the Treasury.

More recently, between 1999 and 2001, he was non-executive director at Legal & General Group.

Between 2000 and 2001 he was chairman of the National Lottery Commission.

Currently he is president of the Society of Business Economists, fellow of the London Business School, companion of the Institute of Management, governor of the National Institute of Economic and Social Research and is also vice president of the Royal Economic Society.

He is married with three children and lives in west London.