New boss of government’s bank shares makes changes on day one

Tim Wallace
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THE BANKER in charge of the government’s stake in the bailed out banks shook up management at UK Financial Investments (UKFI) in his first day on the job yesterday.

James Leigh-Pemberton came from Credit Suisse to take over as chief executive of UKFI, and in the New Year will become its executive chairman, a new role which combines his position with that of chairman.

He has appointed Christopher Fox as head of banking, expanding his position – Fox had been in charge of the bad bank, UK Asset Resolution, and will combine the position with that of head of strategy for Lloyds and RBS investments.

He takes the new position from Naren Ramachandran who is leaving after more than three years at the agency.

UKFI is also bringing in Ruth Curtice as chief of staff. She takes up the new position from the Treasury where she has spent five years working with the banking sector, UKFI said.