The Chancellor has announced the appointment of four new non-executive directors to the UK Infrastructure Bank.
The first permanent non-executive directors on the UKIB board will be Bridget Rosewell CBE, Tania Songini, Marianne kland, and Nigel Topping.
The Bank, which opened its doors in Leeds in June of last year, is tasked with boosting investment in ambitious infrastructure projects, reducing emissions, and leveling the playing field across the United Kingdom.
The Bank has completed seven deals since its launch, including financing the UK’s largest solar farm in south Wales, investing £100 million to provide high-capacity broadband to around 500,000 properties in hard-to-reach UK locations, and another £50 million to improve digital connectivity for rural homes and businesses in Northern Ireland.
The Bank’s set-up will be strengthened by the appointment of four new non-executive directors, all of whom have extensive experience in the Bank’s areas of interest.
John Glen, the Treasury’s Economic Secretary, said: “The Bank has already delivered on its mandate, investing in projects that will support net zero and leveling up across the UK since its launch nearly a year ago.”
These appointments will strengthen the Bank’s capability and help it meet its objectives.
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, said Chris Grigg CBE, Chair of the UK Infrastructure Bank.
I’m thrilled we’ve assembled such a diverse and internationally experienced team to help us build on our strong start in achieving our mission and foster a culture of innovation, learning, and excellence as we expand.
Ms Rosewell has been named Chair of UKIB’s Audit and Risk Committee for a four-year term, alongside Ms Songini, who has agreed to serve as interim Renumeration Committee Chair for a year before becoming a non-executive director for the remaining three years of her term.
Ms. kland and Mr. Topping have also been appointed as non-executive directors for a three-year term, with all of the appointments taking effect on June 9, 2022.
Ms Rosewell CBE is a seasoned director, policymaker, and economist who has advised public and private sector clients on critical strategic issues. She is a non-executive director of Northumbrian Water Group and chairs Atom Bank and the M6 Toll Company. She has chaired the Driver and Vehicle Standards Agency, served as a Senior Independent Director for Network Rail, and served as the Greater London Authority’s Chief Economic Adviser, among other things.
Ms Songini has worked for companies such as The Private Infrastructure Development Group (a development finance fund for infrastructure projects in Africa and Asia), Thrive Renewables, Guernsey Electricity, and the Energy Systems Catapult, among others. She spent 18 years with Siemens, a leading global engineering and technology services company, in their logistics, healthcare, and energy businesses, where she held several finance director positions.
Ms. Kland is currently a member of the Scorpio Tankers Inc Board of Directors and an independent director on the Professional Welsh Rugby Board, which oversees the Welsh national teams and professional regional teams. She previously served on the boards of IDFC Limited, IDFC Alternatives (India), Islandsbanki (Iceland), the National Bank of Greece, NLB (Slovenia), and Hermitage Offshore, where she chaired a number of board committees. Her executive career was spent at JP Morgan and UBS, where she structured and raised debt capital for some of the Nordic region’s most significant mergers and acquisitions.
Mr. Topping brings to the Bank a unique combination of experience, including running manufacturing businesses in UK regions and working on the transition to a zero-carbon economy. He worked in the automotive component manufacturing industry for the first half of his career. Since 2006, he has worked at the Carbon Disclosure Project, led the We Mean Business Coalition, launched the Science Based Targets Initiative, and was recently appointed by the Prime Minister as the High Level Climate Action Champion for COP26, where he launched the Race to Zero and the 2030 Climate Breakthroughs.
As permanent recruitment to the Bank accelerates, the UK Infrastructure Bank announced the appointment of five founding members of its Executive team yesterday.
The Appointment Procedure
Following a fair and open competition, Bridget Rosewell, Tania Songini, Marianne kland, and Nigel Topping were chosen. An advisory assessment panel chaired by Chris Grigg (Chair, UK Infrastructure Bank) and including Anna Payton (Executive Director, UK Government Investments) and Neeta Aktar (NED, British Business Bank) interviewed a number of candidates and made recommendations to the Economic Secretary to the Treasury and the Chancellor, which influenced the decision.
The Treasury is committed to appointing a diverse range of people to public positions, and it works hard to attract the widest possible pool of qualified candidates. For these positions, 153 applications were received, with 16 candidates being chosen for an interview. The table below depicts the diversity profile of applicants and interviewees based on information provided during the appointment process. The following is a breakdown of the appointment’s diversity.