Shaun Kingsbury, an investment partner at private equity group Hudson Clean Energy Partners LP, was appointed to run the U.K. government’s 3 billion-pound ($4.9 billion) Green Investment Bank.
Six non-executive directors, including HgCapital LLP Director Tom Murley and Standard Life Plc (SL/) Chief Executive Officer David Nish, were also appointed, U.K. Business Secretary Vince Cable said today in a statement. They’ll take up their posts in late October.
The bank, to be started with 3 billion pounds of state money, is designed to spur investment in carbon-cutting technologies such as offshore wind power. It will be based in Edinburgh with the main transaction team in London and will be fully operational later this year, subject to European Commission approval.
To contact the reporter on this story: Sally Bakewell in London at Sbakewell1@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at email@example.com