Should it push ahead with a bid for Northern Rock, New York-based buyout firm J.C. Flowers has said it would propose that Land Securities non-executive chairman Paul Myners take over the position of chairman at the financially troubled UK mortgage bank.

Should it push ahead with a bid for Northern Rock, New York-based buyout firm J.C. Flowers has said it would propose that Land Securities non-executive chairman Paul Myners take over the position of chairman at the financially troubled UK mortgage bank.

Aside from his current position as chairman of the UK's largest property company, Myners is also the former chairman of UK retailer Marks & Spencer. His name is one in a proposed new management line-up that has been enlisted should J.C. Flower proceed with a bid. While it is continuing negotiations with Northern Rock's board and advisors regarding a possible bid, J.C. Flower noted there is no guarantee it will go ahead with an offer.

The November issue of PropertyEU Magazine includes an interview with Pail Myners.