Grovepoint Capital managing partner Bradley Fried, Cairn Capital founder Tim Frost and Unity Trust Bank president Dave Prentis have been appointed as non-executive directors of the Bank of England.

Fried and Prentice will be in the role for three years while Frost’s term is for two years.

Fried is also a member of HM Treasury’s audit committee and a non-executive director of Investec. Frost founded asset manager Cairn Capital in 2004 and holds positions as a governor at the London School of Economics and is a director and chair of the board at Markit.

As well as his role with UTB, Prentis is the general Secretary of Unison and serves as a commissioner on the Government’s UK Employment and Skills Commission.

Former Deutsche Bank co-head of corporate and investment banking Michael Cohrs, Legal & General Group chairman John Stewart and FSA chairman Adair Turner have been reappointed as non-executive directors of the BoE.

Turner will cease to hold his position once the Financial Services Bill reforms come into place. The bill, which is in its second reading in the House of Lords, will be implemented next year.

Coreco director Andrew Montlake says: “With all their experience in finance and economics they are well suited to the role and I am sure they will do a good job of overseeing the bank.”