Cable unveils Green Bank team
27 September 2012
Business Secretary Vince Cable has appointed the first chief executive of the Green Investment Bank, along with six non-executive directors.
Shaun Kingsbury, former investment partner at private equity firm Hudson Clean Energy Partners, becomes the bank’s new chief executive and will work alongside its chairman, Lord Smith of Kelvin, and deputy chair Sir Adrian Montague.“The bank has the important and exciting principal task of allocating capital to projects which can both enhance economic competitiveness and provide leadership in environmental business performance,” said Kingsbury.
He will be joined by non-executive directors including Aston University vice-chancellor Dame Julia King, Heathrow Airport finance director Fred Maroudas and Tom Murley of HgCapital.
The line-up is completed by David Nish, chief executive at Standard Life, University of Edinburgh Business School visiting professor Isobel Sharp, and Tessa Tennant, who co-founded the UK's first equity investment fund for sustainable development in 1988.
“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,” said Cable.
The Green Investment Bank is scheduled to be established early next year, but it will not have any borrowing powers until at least 2015.
