Prime Minister David Cameron has announced that HSBC chairman Stephen Green will take on the role as minister of state for trade and investment.
Green is quitting his position as chairman for the unpaid role, where he has been tasked with leading the Government’s effort to establish the UK as the most attractive location for international investment and to drive growth in UK export.
He has also quit his role as chairman of the British Bankers’ Association, with Barclays group chairman Marcus Agius taking on the role.
Green will report to both the secretary of state for business and the foreign secretary. Prime Minister David Cameron says the appointment shows the Government’s dedication to developing international relationships and boosting British businesses abroad.
On the appointment of Agius to the BBA, chief executive Angela Knight says: “The banking industry is facing fresh challenges as it works to play its full part in the UK’s financial recovery. Marcus Agius, in his role as Barclays’ group chairman, has helped the international banking giant grow and successfully weather the last three year’s financial turbulence, brings a sound understanding of the City, the key issues facing the industry and an international perspective which reflects well the BBA’s broad global membership.”