Salisbury MP John Glen has been named the new City minister, as Theresa May's reshuffle concludes.
Glen, who will have responsibility for Brexit, takes the reins from Steve Barclay at a critical point in the withdrawal process.
He is the 11th economic secretary to the Treasury in the last decade, with the role being held by a host of prominent names including Treasury committee chair Nicky Morgan, housing secretary Sajid Javid and leader of the Commons Andrea Leadsom, as well as now ex-education secretary Justine Greening.
As with many of his predecessors, Barclay held the post for just a few months but was viewed positively within the financial services community. TheCityUK's chief executive Miles Celic said he had been "terrific".
Glen moves from his role as parliamentary under-secretary for culture, media and sport.
His appointment was one of several today, which included justice minister Dominic Raab moving to housing, universities minister Jo Johnson to transport and London and pro-Leave MP Suella Fernandes joining Dexeu as another under secretary.
Mark Garnier, who was cleared last month of breaching the ministerial code after he asked a secretary to buy him sex toys, was sacked.
Overall, the shake up means there are more women attending Cabinet, more female ministers and more members of the government from a BAME background than before.
At the close of the day, May said: “This government is about building a country fit for the future – one that truly works for everyone with a stronger economy and a fairer society.
“This reshuffle helps us do just that by bringing fresh talent into government, boosting delivery in key policy areas like housing, health and social care, and ensuring the government looks more like the country it serves.
“It also allows a new generation of gifted ministers to step up and make life better for people across the whole UK.”