Mark Hoban, MP for Fareham, is the new financial secretary to the Treasury, with specific responsibility for the City and financial services industry.
He is joined by MP for Putney Justine Greening, who takes on the role of economic secretary, and David Gauke, MP for Hertfordshire South West, the new exchequer secretary.
As previously announced, Liberal Democrat MP David Laws is chief secretary to the Treasury, effectively becoming Osborne’s number two.
Rupert Harrison, previously Osborne’s economic adviser while in opposition, will be appointed as a special adviser or “spad”, a politically motivated aide that is on the government payroll.
And Ramesh Chhabra, Osborne’s spokesman, is expected to join the Treasury as a special adviser with responsibility for briefing the press.
A peerage will be given to Sir James Sassoon, the former UBS banker, who will take a ministerial post with responsibility for driving through reforms to the banking and financial services sector.