Chair - UK Government Investments Ltd (UKGI)

Body: UK Government Investments Ltd (UKGI)
Appointing Department: HM Treasury
Sector: Business, Finance & Skills
Location: London. Due to Covid-19 meetings are currently taking place virtually
Skills required: Business / Commercial
Number of Vacancies: 1
Remuneration: A basic fee of £40,000 per annum, plus additional fees for committee membership where applicable.
Time Requirements: Six days per month. The appointment will be for an initial term of three years.


An announcement has been made on the outcome of this appointment.

Vindi Banga has been appointed as Chair of UK Government Investments (UKGI), by John Glen, the Economic Secretary to the Treasury.

Date: 02/08/2021

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Campaign Timeline

  • Competition Launched


  • Closed for Applications


  • Panel Sift


  • Final Interview Date


  • Announcement



Assessment Panel

  • Charles Roxburgh

    Panel Chair

    Second Permanent Secretary, HM Tresaury • Departmental Official

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  • Baroness Shriti Vadera

    Chair of Prudential plc • Independent Member

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  • The Hon. Sir James Leigh-Pemberton

    UKGI Non-Executive Deputy Chairman • Representative of Organisation

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Vacancy Description

The role

The Chair of UKGI is a critical role of national importance, providing effective leadership and direction to the Board, shaping the organisation’s strategy and providing appropriate and robust challenge to the senior executive team. Appointed by the Chancellor of the Exchequer, the Chair will lead UKGI through a period of growth, maintaining effective relationships with stakeholders, and representing UKGI externally.

Key responsibilities

Lead the Board effectively, drawing out the skills and experience of other Non-Executive Board Members (NEDs) and working collaboratively with the Executive. Ensure the optimal balance between support and challenge, particularly between the Non-Executive and the Executive, both through setting the best example as well as leading and guiding Board discussions and decisions. Ensure that the Board is effective in providing direction and holding the executive to account.

  • Ensure that UKGI’s strategy and conduct is aligned with ministers’ overall policies and objectives.
  • Develop the Board as a whole, increasing its breadth of skills and overall effectiveness ensuring its continuing progress and its composition, assessing skills against requirements. Work with HMG to play a leading role in attracting new NEDs as existing terms expire, ensuring they have the support and induction they need to be effective. Uphold the highest standards of integrity and probity of the Board.
  • Establish a close and effective working relationship with the CEO and the Executive team of UKGI and be available to provide them with advice and support as required. Constructively manage relationships with UKGI’s main client departments, particularly their Permanent Secretaries, and with UKGI’s portfolio entities, establishing strong relationships with the Chairs of these entities.
  • Lead UKGI and its Board through a period of growth, as UKGI expands its size and its remit, in order to provide corporate finance advice to government as it unwinds its interventions in response to the pandemic and as government increases its capacity having departed the EU single market and customs union.
  • Ensure the Board promotes the highest standards of corporate governance and ensure that UKGI complies with all governance requirements.
  • Maintain and develop UKGI’s culture of excellence, collaboration and professional integrity in all aspects of its operations.
  • Play a leading role in UKGI’s engagement with its key stakeholders, both internal to government, including HM Treasury and Cabinet Office, and external to government, so that UKGI acts as a bridge between Whitehall and the City.
  • Develop a succession planning strategy for the Board and (in conjunction with other Non-Executive Directors), for key Executive roles.

Person Specification

Candidate Profile 

Essential experience

  • An outstanding record of achievement; someone with strong personal credibility who has wide leadership experience in large complex organisations.
  • Excellent communication skills, with an empathetic approach. Able to navigate complex relationships and build strong, productive and effective long-term partnerships externally and within UKGI’s portfolio, in order to optimise its unique operating model.
  • Deep experience of working on Boards and governance best practice, as Chair or, exceptionally, SID.
  • Experience of working with government, an Arm’s Length Body or related body.
  • Proven financial skills and significant experience of large transactions (M&A, capital raising).
  • Proven record in championing diversity.

Desirable experience

  • Wide experience of different businesses and business models gained through direct high-level executive experience or through consulting or advisory roles.
  • Experience of leading and managing high performing advisory/consulting teams.
  • Background in corporate finance.

Essential attributes

  • Ability to cope with multiple stakeholders and ambiguity.
  • Demanding and capable of holding CEO to account but with effectiveness underpinned by an empathetic approach.
  • Ability to understand and promote UKGI culture and values.
  • A listener, team player, low ego, capable of influencing rather than directing.
  • Undoubted integrity, with an understanding of, and personal commitment to, the Seven Principles of Public Life.
  • Politically astute.

Additional Information

  • The successful candidate will be expected to undergo security clearance to SC level.

How to Apply

The closing date for applications is 16 April 2021 at 23:00 UK time. Successful candidates may be invited to attend preliminary interviews with Odgers Berndtson during the search process. Any candidates that are required to attend will be notified as soon as possible. A shortlist meeting with the Selection Panel will take place in April 2021. The final interview process will take place in May 2021.

In order to apply and your application be deemed complete, please submit all of the following:

  • a comprehensive CV
  • a covering letter (no more than two pages) which sets out your interest in the role and encapsulates the aspects of your experience relevant to the required criteria. Please also include details of two referees.
  • completion of the Disability Confident Scheme, Political Activity and Conflict of Interest questionnaire
  • completion of the equal opportunities monitoring form

The preferred method of application is online at:

UKGI Chair Candidate Pack
UKGI Chair Candidate Pack
Disabilty Confident Political Activity Conflict of Interest
Disabilty Confident Political Activity Conflict of Interest
Diversity Monitoring Form
Public Appointment Recruitment Privacy Notice
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