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Green Investment Bank CEO and board revealed

Business secretary Vince Cable has announced a chief executive for the Green Investment Bank.

Shaun Kingsbury 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 GIB is being set up to provide financial solutions to accelerate private sector investment in the green economy.

Six new Non-Executive Directors (NEDs) have also been appointed, with backgrounds in universities, business, investment funds, equity finance and the low carbon sector.

They include Heathrow Airport finance director Fred Maroudas, formerly of Treasury department Partnerships UK - its specialist PFI task force - and director of treasury at BAA.

Mr 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.”

Mr Kingsbury said:  “The GIB 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.”

CEO

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.

Non exec directors:

Professor Dame Julia King, Vice-Chancellor of Aston University

Fred Maroudas, Finance Director of Heathrow Airport

Tom Murley, leads the renewable energy team at HgCapital

David Nish, Chief Executive at Standard Life

Isobel Sharp, advises Deloitte LLP on corporate reporting

Tessa Tennant, co-founded the UK’s first equity investment fund for sustainable development in 1988

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