CEO appointed at UK Green Investment Bank

Business Secretary Vince Cable announced yesterday the latest executives to join the UK Green Investment Bank (UK GIB). Shaun Kingsbury has been appointed as the Chief Executive. He joins the UK GIB from the private equity firm Hudson Clean Energy Partners where he was responsible for its European activities. He will work alongside the Chair Lord Smith of Kelvin and Deputy Chair Sir Adrian Montague who were appointed by Vince Cable in May 2012. The CEO and non-executive directors will take up their posts in late October 2012.

Six new Non-Executive Directors (NEDs) have also been appointed. Between them they have a wealth of experience with backgrounds in universities, business, investment funds, equity finance and the low carbon sector. They are:

Business Secretary Vince Cable said: “I am delighted that we have been able to appoint people of such high calibre to the Board of the UK Green Investment Bank. I have every confidence that the team will build on the good progress already made, leading the Bank into full operation and developing a truly ground breaking institution.”

UK Green Investment Bank Chair Lord Smith said: “I am pleased to announce the appointment of Shaun Kingsbury as Chief Executive of the UK Green Investment Bank. Shaun brings a strong track record of leadership in private equity and low carbon finance. The non-executive directors also bring strong experience and expertise to our new Board."

About Shaun Kingsbury

Shaun Kingsbury served as an Investment Partner at Hudson Clean Energy Partners, a leading clean energy private equity firm where he was responsible for its European activities. He is a long time renewable energy investor and advisor having been a founding partner of Pulsar Energy Capital and an advisor to 3i on a number of renewable energy transaction opportunities in Europe. Shaun also set up and leads the Low Carbon Finance Group in London, a body of leading capital providers to the renewable energy sector.

About Professor Dame Julia King

Professor Dame Julia King has been the Vice-Chancellor of Aston University since December 2006. Julia is a member of the Board of Universities UK and Chair of the Higher Education Statistics Agency, as well as Non-Executive Director at the Department for Business, Innovation and Skills (BIS). She was appointed as the UK’s Low Carbon Business Ambassador in November 2010.

About Fred Maroudas

Fred Maroudas has recently been appointed to the role of Finance Director of Heathrow Airport. Fred joined BAA in 2009 as Director of Treasury. Fred currently chairs the UK Green Investments (UKGI) Investment Committee and is Deputy Chairman elect, Local Partnerships LLP.

About Tom Murley

Tom Murley leads the renewable energy team at HgCapital and is responsible for HgCapital Renewable Power Partners' funds. Tom joined HgCapital in 2004 and has more than 15 years’ experience in providing equity finance to the US and European conventional and renewable power sectors.

About David Nish

David Nish has been Chief Executive at Standard Life since January 2010. He is also Deputy Chairman of the Board and Chairman of the Life Insurance Council Management Committee of the Association of British Insurers, Member of the UK Strategy Committee of TheCityUK and Member of the Financial Services Advisory Board of the Scottish Government.

About Isobel Sharp

Isobel Sharp advises Deloitte LLP on corporate reporting, governance and public policy matters, having retired as senior technical partner in May 2012. She is a Visiting Professor and member of the Advisory Board at the University of Edinburgh Business School.

About Tessa Tennant

Tessa Tennant has devoted her career to innovation in financial services for sustainability. Working for over twenty years in the investment industry, especially with asset owners, she has co-launched numerous funds. Tessa co-founded the UK's first equity investment fund for sustainable development in 1988, now called the Jupiter Ecology Fund.

About the UK Green Investment Bank (UK GIB)

The UK GIB is designed to accelerate private sector investment in the UK’s transition to a green economy. Offshore wind power generation, waste processing and recycling, energy from waste generation, non-domestic energy efficiency and support for the Green Deal will be the first priority sectors for the UK GIB, subject to approval by the European Commission.

For further information visit www.bis.gov.uk/greeninvestmentbank.