Richard Branson earned full marks for cheek when he launched his bid for troubled Northern Rock earlier this month. But rival bidder Christopher Flowers has a far better chance of buying the troubled company, judging by his team's superior pedigree.

JC Flowers' proposed chairman Paul Myners needs no introduction to individuals on the fund management scene. Former chairman of Gartmore, the asset management firm, he went on to serve on the board of its purchaser NatWest and aspired to become its chief executive before its later purchase by Royal Bank of Scotland.