New UKGI Chair appointed
UK Government Investments is an arm’s length body of the Treasury, and functions as the government’s centre of excellence in the fields of corporate governance and corporate finance.
Banga is the incumbent chair at Marie Curie, a senior NED of GlaxoSmithKline, a NED of The Economist Group and partner at CD&R. He also worked for 33 years at Unilever, where his last role saw him preside over the firm’s Global Foods, Home and Personal Care businesses and sit on the executive board.
Economic Secretary to the Treasury, John 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 CEO, Charles Donald, added: “Vindi [Banga] 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.”
The appointment of the UKGI Chair is regulated by the Commissioner for Public Appointments and is made in line with the Governance Code on Public Appointments published by the Cabinet Office.
The UK government has declared that the appointment was made entirely on merit with no political activity involved in the decision-making process. The Governance Code also requires those appointed to declare any personal political activities, with Banga making no declarations.
Banga will take up his new position in September 2021, succeeding incumbent UKGI Chair, Robert Swannell CBE.