New chair for the Industrial Development Advisory Board

Public investment expert Paul Mullins was today (26th November 2012) announced as the new Chair of the Industrial Development Advisory Board (IDAB) by Business Minister Michael Fallon.At the same time, Mr Fallon announced the reappointment of Philip Sturrock for a second term as a member of the Board. IDAB provides advice to Government on proposals to provide selective assistance to large projects, particularly applications for Grant for Business Investment and Regional Growth Fund schemes.

Business Minister Michael Fallon said: “The skills and experience Paul and Philip bring is a real boost for the Industrial Development Advisory Board, which provides a vital role in helping the Government make the right choices on large investment decisions.

“It is imperative that the best business brains advise the Government on which projects will best drive growth to ensure taxpayers’ money is being spent efficiently on projects that will have a positive impact on job creation and on boosting local communities.”

About Paul Mullins

Paul Mullins has been a mergers and acquisitions adviser for 25 years at Schroders, Citigroup, Bank of America and DC Advisory. He is a fellow of the Chartered Institute for Securities & Investment, a member of The Independent Advisory Panel of the Regional Growth Fund and served as a Commissioner on the Ownership Commission. He has been a member of the Board since December 2008. Paul will become Chair with effect from 1 December 2012 for a three year period on the retirement of the current Chair, Mark Seligman.

About Philip Sturrock

Philip Sturrock is currently Chair of the Wandle Housing Association and of The United St Saviour's Charity in Southwark. He was previously Chair and CEO of The Continuum International Publishing Group. He has had a long and successful career in book publishing including being Chair of Osprey Publishing Ltd, Chair and CEO of Cassell plc and Managing Director of both Routledge and Pitman. Philip was appointed to the Board in November 2009.