Money

New Chair of UK Government Investments appointed

Vindi Banga has been appointed as Chair of UK Government Investments (UKGI) by Economic Secretary to the Treasury, John Glen.

UKGI is an arm’s length body of the Treasury and is the government’s centre of excellence in corporate governance and corporate finance.

Vindi Banga is currently Chair at Marie Curie, a Senior Non-Executive Director (NED) at GlaxoSmithKline, a NED of The Economist Group and Partner of CD&R.

He has 33 years of experience at Unilever, where his last role was President of the Global Foods, Home and Personal Care businesses, as well as being on the Unilever Executive Board.

Mr Banga will take up the role in September 2021, following a handover with the incumbent Chairman, Robert Swannell CBE.

Commenting, Mr Glen said:

“I am delighted to welcome Vindi Banga as the new Chair of UK Government Investments.

“His extensive leadership experience will be a great asset for guiding the UKGI Board in the coming years.

“UKGI provides invaluable advice and support to the government on corporate governance and corporate finance and Vindi’s appointment will ensure this continues.”

CEO of UKGI, Charles Donald added:

“Vindi joins UKGI with a wealth of experience from his previous and current positions.

“I am particularly pleased that this critical organisation will be led by someone who embodies our ambitious diversity and inclusion agenda and is passionate about helping me to build on the progress made to date.

“I very much look forward to working with Vindi in his new role as we continue to deliver on our objectives over the next year and beyond.

“I extend my heartfelt thanks to Robert Swannell for all his good advice and support as Chairman and the work he has done during his tenure to transform UKGI into the organisation it is today.”

This appointment is regulated by the Commissioner for Public appointments (OCPA) and is made in accordance with the Governance Code on Public Appointments, published by the Cabinet Office.

The appointment is made on merit and political activity played no part in the decision process.

In accordance with the code, there is a requirement for appointees’ political activity (if any declared) to be made public.

Mr Banga did not declare any political activity.

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