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Tories announce front bench appointments

New Conservative leader Ian Duncan Smith has completed his front bench team, including those relevant for the financial services industry.

Shadowing the Treasury will be former Home Secretary Michael Howard opposite Chancellor Gordon Brown. Howard Flight, who co-founded City fund manager Guinness Flight will return as shadow economic secretary, the portfolio most responsible for the industry.

David Willetts will retain his position as Shadow Secretary of State for Work and Pensions. There will not be a direct replacement for pensions spokeswoman Jacqui Lait, who was Pensions Minister Jeff Rooker&#39s opposite in the last Parliament.

Instead, Willetts&#39 team will be MPs James Clappison and Tim Boswell, who will share the duties of the shadow team.

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