UKIB appoints first permanent executive team

The UK Infrastructure Bank (UKIB) has appointed five founding members of its executive team, plus four non-executive directors.

The group have collectively worked at similar national organisations such as the Canadian Infrastructure Bank, Green Investment Bank and UK Export Finance, as well as leading financial services firms and central government departments. 

The UK Infrastructure Bank was announced as part of the government’s National Infrastructure Strategy in 2020 and launched in June 2021. It is tasked with accelerating investment into ambitious infrastructure projects, cutting emissions and levelling up across the UK.

Expected to arrive during the summer 2022 and be based at the bank’s Leeds headquarters, the bank is preparing to welcome:

• Head of Banking: Ian Brown 
• Chief Finance Officer: Annie Ropar 
• Chief Risk Officer: Peter Knott 
• Chief People Officer: Patricia Galloway 
• General Counsel: Davinder Mann

They will join the existing team of John Flint (chief executive), David Lunn (chief operating officer), Kate McGavin and Helen Williams (job-share policy director), Urvashi Parashar (chief impact officer and chief economist) and Stuart Nivison (head of portfolio management). As CFO, Annie Ropar will also sit on the board.

John Flint, CEO of the UK Infrastructure Bank said: “I am delighted to welcome Ian, Annie, Peter, Patricia and Davinder to the bank. This is an outstanding executive team who will take the bank to its maturity, and I am proud of the depth of talent that we have attracted. We’re diverse by design at the UK Infrastructure Bank and this team will set the tone as we grow the whole organisation and deliver on our urgent mission to tackle climate change and boost local and regional economic growth across the country.”

The permanent executive will also be joined by Bridget Rosewell CBE, Tania Songini, Marianne Økland and Nigel Topping, who, all appointed by chancellor Rishi Sunak, will be the first set of permanent non-executive directors on the board of UKIB.

Sunak has appointed Rosewell as chair of the bank’s Audit and Risk Committee for a term of four years, alongside Songini who has agreed to act as interim Renumeration Committee chair for a year after which she will be a non-executive director for the remaining three years of her term.

He has also appointed Økland and Topping as non-executive directors for a term of three years, with all the appointments taking effect from 9 June 2022.

John Glen, economic secretary to the treasury, said: “Since its launch nearly a year ago, the bank has already delivered on its mandate, investing in projects that will support net zero and levelling up across the whole of the UK. These appointments will further strengthen the bank’s capability and support it to deliver on its goals.”

Chris Grigg CBE, chair of the UK Infrastructure Bank, said: “The appointment of this exceptional group of non-executive directors is a real milestone for the bank, as we approach our one-year anniversary and prepare to publish our strategy in the coming weeks. I am very pleased we’ve secured such a diverse and globally experienced team, who will help us build on the great start we’ve made to deliver against our mission and support a culture of innovation, learning and excellence as we grow.”

The appointment of this permanent executive team comes at an important time for the bank, as it prepares to launch its first strategy later this month which will set out how it will deliver its mission to help tackle climate change and support regional and local economic growth.