Managing director of headhunter BYT, has no doubt that in retail, Peter Newbould at WH Smith Travel Retail is "definitely one to watch".

Newbould, just 27, is trading controller at Travel Retail and in his short time there has turned the division into one of the most successful at the struggling chain.

Gareth Whiley, director of retail at private equity firm PPM Ventures, says Simon Burke, the respected ex-executive chairman of toy retailer Hamleys, is likely to be rarely out of the action. Last year he was featured by private equity firm Permira in approaches to run WH Smith and Toys R Us.

At ailing retailer Marks & Spencer, chief executive Stuart Rose, who helped see off billionaire Philip Green's bid in the summer, is under pressure for a spring sales recovery. His new womenswear director, Kate Bostock, certainly has a tough job, says Richard Hyman of Verdict, but her experience at George at Asda could help turn the tide.

At supermarket Sainsbury's, boss Justin King is in a similar situation to M&S's Rose. Two people in King's team look particularly well equipped to meet the challenges, believes headhunter Moira Benigson. Mike Coupe, trading director, and Stephen Nelson, marketing director, "will make a big difference", she says.

In media, the merger of Capital Radio and GWR will bring its bosses under the spotlight.

Ralph Bernard, chief executive, and David Mansfield, chairman, should become popular with investors as they implement the promised cost savings, says Investec analyst Malcolm Morgan. At Channel 4, last year's appointments of former Freeview boss Andy Duncan as chief executive and Pizza Express entrepreneur Luke Johnson as chairman were viewed as highly creative choices. The pair may also seek cost savings by merging C4's technical and education divisions with those of the BBC.

In a tough telecoms market, new Vodafone chief Arun Sarin is expected to make a success of 3G while rival Bob Fuller, UK boss of Hutchinson's much smaller 3, is tipped by one leading analyst to grab significant market share in the summer and autumn. "Next Christmas will see huge 3G competition between mobile operators and 3 is placed to do well, " said the analyst.

In leisure gaming, entrepreneurs will be big winners this year as the Gaming Bill evolves. Whatever the fine print, Damian Aspinall is set to be a big player. He inherited from father John the upmarket Aspinall's club in London's Mayfair and has experience of the UK market. His partnership with Kerry Packer, Australia's richest man, will bring him financial clout to roll out winning ventures.

It will be a defining year for the Grand Prix World Championship, the rival motor racing series being set up by some of the main Formula One teams as an alternative to promoter Bernie Ecclestone's championship. Christina Booth, the US banker from Goldman Sachs, has been tying in circuits, teams and media outfits. If successful, she will be catapulted to the status of Bernie in a skirt.

In transport, Jim French, managing director of up-andcoming low-cost airline FlyBe, has caught analysts' eyes. One says:

"He wants to make FlyBe the UK's regional airline. I expect him to build on what he has achieved."

IN BANKING, John Varley becomes chief executive at Barclays. Having played second fiddle to Matt Barrett, who steps up to chairman, Varley will need all his experience as finance director, and his close ties to the Barclays dynasty, to make his mark.

He could be aided by Roger Davies, chief executive of Barclays' UK banking operation, who has been instrumental in much of the restructuring at the bank.

At Abbey National, the arrival of Francisco Gomez-Roldan as chief executive from Spanish bank Santander, which now owns Abbey, "should have a positive effect, " says Alex Potter, an analyst at Lehman Brothers.

Other bank names to look out for include ex-Egg executive Jerry Toher, who now heads the Mint credit card owned by Royal Bank of Scotland, Jim Wallace, group marketing director of RBS's Direct Line, and George Graham, formerly of the Financial Times' Lex Column, who advises on acquisition and growth at RBS.

Many eyes will be on Mark Tucker, the finance director of Halifax group HBOS, who masterminded Prudential's dramatic growth in Asia. Rob Devey, head of retail banking at HBOS, says: "He is a bright star. He and Andy Hornby would be good successors to chief executive James Crosby.