From hereon, Bank of England deputy governor Ben Broadbent will head a group of grandees, with outgoing National Portrait Gallery boss Sandy Nairne and author Baroness Lola Young. They will pick a topic to focus on and choose another four experts from that area to join the panel.
After that we get public nominations, then focus groups, and finally governor Mark Carney will pick from the shortlist.
This new process started because of a campaign group angry at the lack of women on banknotes (Her Majesty aside, of course). The resulting panic meant that Jane Austen was picked for the £10 note – a decision that will soon be gracing your wallets and purses.
The Capitalist spies a chance for mischief. Perhaps we should nominate Fred the Shred, or maybe the Wolf of Wall Street...