Myners finally gets his ermine robe

Chamber of the House of LordsImage via WikipediaAfter hankering after enoblement for easily a decade, Paul Myners has finally got his wish. His appointment as City Minister lands him a place in the House of Lords.

A "City Grandee", who built Gartmore up in the 1990s as its' CEO, he has since chaired numerous companies including Marks & Spencers and will be leaving some highly paid roles to assume the job - Chair of Land Securities and Guardian Media Group, as well as Director of GLG.

It will be interesting to see how he handles the "short selling" debate, given his paws have been all over companies that have made extensive use of the practice, most notably GLG who held a large short position in Bradford & Bingley before it collapsed, according to reports they filed.

A place in the Government and House of Lords will only add to the pomposity of the man, who could never be described as approachable or compassionate. If you take a contrary position to him, that makes you an idiot in his eyes. I only encountered him a couple of times at Gartmore, but found it easy to dislike him.

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