Appointment details

Non-Executive Director - UK Government Investments

Summary

• Organisation: UK Government Investments
• Sponsor department: HM Treasury
• Location: London
• Sectors: Business and Trade
• Skills: Business
• Number of vacancies: 1
• Time commitment: 3 day(s) per month
• Remuneration: £33,313 per annum
• Length of term: 3 years
• Application deadline: Midday on 17 August 2026

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Timeline for this appointment

1. Opening date

   16 July 2026

2. Application deadline

   Midday on 17 August 2026

3. Sifting date

   17 September 2026

4. Interviews expected to end on

   8 October 2026

Timeline dates are only an estimate and can change

About the appointment

Introduction from the Chair

Thank you for your interest in joining the Board of UK Government Investments (UKGI) as a Non-Executive Director.

UKGI plays a unique and increasingly important role at the heart of government. Since our establishment in 2016, demand for our specialist expertise has continued to grow, reflecting the contribution we make to delivering the Government’s priorities, supporting economic growth, and ensuring effective stewardship of public assets and investments.

As the Government’s centre of expertise for corporate finance and corporate governance, UKGI combines deep commercial capability with a strong public service mission. We act as shareholder representative for many of the Government’s most significant arm’s length bodies, lead the establishment of complex commercial organisations on behalf of departments, and provide advice on major corporate finance transactions and financial interventions. Through this work, UKGI helps government make informed decisions on some of its most complex and strategically important commercial activities.

This is an exciting time to join the UKGI Board. The successful candidate will have a rare opportunity to contribute to the delivery of key government priorities and to help shape the future direction of an organisation with a distinctive culture, a highly talented workforce, and a reputation for excellence. We are seeking an accomplished and collaborative individual who will bring valuable insight, constructive challenge and sound judgement, helping to strengthen UKGI’s capabilities and support the successful delivery of our objectives.

I hope this opportunity inspires your interest, and I look forward to receiving applications from candidates who share our commitment to public service, professionalism and impact.

Vindi Banga, Chair of UKGI

Appointment description

We are seeking to appoint a Non-Executive Director for UKGI  to replace a Board member who has recently completed their term. This is a unique opportunity to be part of a dynamic and experienced Board overseeing a complex and fascinating portfolio of businesses. UKGI’s work blends government policy with a commercial perspective, often within challenging and continuously evolving circumstances. Working with a breadth of government departments, external Boards and businesses, this is an opportunity to contribute at the heart of critical negotiations and analysis on some of the most challenging and sensitive corporate transactions, while navigating key issues such as nuclear decommissioning.

Working in collaboration with fellow Board members, led by the Chair, Non-Executive Directors (NEDs), are expected to contribute to: 

• Shaping the organisation’s strategy and ensuring it is aligned with Minister’s overall policies and objectives.
• Providing appropriate and robust challenge to the senior Executive team.
• Maintaining effective relationships with stakeholders and representing UKGI externally.
• Ensuring the highest standards of corporate governance and that UKGI complies with all governance requirements.
• Maintaining and developing UKGI’s culture of excellence, collaboration, and professional integrity in all aspects of its operations.
• Contributing to the succession planning strategy for the Board and for key Executive roles.

Organisation description

UK Government Investments (“UKGI”) began operating on 1 April 2016 as a government company, wholly owned by HM Treasury. Independently managed, UKGI brought together the functions of the Shareholder Executive (ShEx was formerly part of the Department for Business, Innovation and Skills) and UK Financial Investments Ltd (UKFI) under a single holding company.

UKGI’s activities are governed by its Board and underpinned by its Articles of Association and framework agreement with HM Treasury (“HMT”). UKGI is accountable via its independent Board to HMT ministers and – through the Chancellor of the Exchequer – to Parliament. 

UKGI works across government on some of its most interesting and complex commercial tasks. We work closely with both the private and public sectors, advising and interacting with ministers, Parliament and Whitehall departments. 

At UKGI we create value for society from government’s most complex commercial interests. What we do is unique, and so are we. Our team comprises c.150 experts who work together to provide corporate governance and corporate finance expertise to government departments in support of their policy objectives. 

Working for UKGI provides a unique opportunity for talented individuals from the public and private sector to contribute to work of national importance. The work we do is significant in terms of social, economic, and political impact. 

Our work is delivered across three areas of expertise: 

• Corporate governance: Act as shareholder representative for, and lead establishment of, UK Government’s most complex and commercial arm’s length bodies on behalf of sponsor Departments. We typically perform this via a dedicated shareholder team and provide a Shareholder Non-Executive Director as a member of the arm’s length body’s board.  
• Corporate finance: Advise on major UK government corporate finance matters, including financial interventions into corporate structures and corporate finance negotiations. 
• Financial Instruments and Transactions Advisory: Improve the UK government’s decision making regarding the structuring, and management of, contingent liabilities in a responsible way that creates value for money. Advise, manage and execute the sale or purchase of significant corporate assets for the government.

Board composition

The Board is currently comprised of the following members:

• Vindi Banga, Chair 
• Harry Hampson, Chief Executive
• Andrew Ballheimer, Non-Executive Director
• Andy Halford, Non-Executive Director 
• Vanessa Lawrence, Non-Executive Director
• Iain Mackay, Non-Executive Director 
• Mahnaz Safa, Non-Executive Director
• Craig Coben, Non-Executive Director 
• Clive Maxwell, Second Permanent Secretary for the Department of Energy Security & Net Zero
• Jim O’Neil, Second Permanent Secretary at HM Treasury 

UKGI Board Member Biographies can be found on the UKGI website.

For more information about UKGI, please download our latest Annual Report and Accounts.

Person specification

Essential criteria

• Knowledge: a clear understanding of the work, priorities and challenges of UKGI and the context within which it operates. 
• Experience: a strong track record of overseeing the operation of large-scale or complex organisations, gained within the private or public sectors at chief executive level (or equivalent) or as a Chair of a FTSE level Board. 
• Communication: strong communication and interpersonal skills with the ability to listen, accept challenge and constructively challenge others in discussions with clarity and respect.
• Judgement: effective decision-making skills with the ability to critically analyse a wide range of information to make clear and objective evidence-based recommendations to support the delivery of UKGI’s objectives. 
• Collaboration: ability to work effectively with the executive board and other key stakeholders, providing support, constructive challenge and assurance as appropriate; including supporting UKGI colleagues to fulfil their roles as Shareholder Representatives on government boards

Desirable criteria

• Experience of working in or with government to support the delivery of HMG’s priorities. 
• An understanding of Cyber and/or AI integration within an organisation. 

Application and selection process

About this appointment

Some public appointments are made by the Prime Minister, or the Crown on the recommendation of the Prime Minister. Others are made by Secretaries of State or other ministers and are of interest to the Prime Minister.

Public appointments made by or of interest to the Prime Minister

How to apply

To help you succeed, we have provided application guidance on our public appointments campaign page. In order to apply you will need to create an account or sign in. 

Once you are logged into your account, click on 'apply for this role'  within this advert and follow the on-screen instructions.

Step 1

Submit your declarations via the Public Appointments website. 

Applicants must create or log into their public appointments account and apply via this link https://apply-for-public-appointment.service.gov.uk/roles/9522/apply

Through this portal, you will be asked to complete: — 

• An Equality Information Form

• An Outside Interests Form

• Personal details including address 

• A short biography 

Please be aware if you do not complete these your application will not be considered.

We will ask you to check and confirm your personal details to ensure your application is accurate. You will also have the opportunity to make a reasonable adjustment request or apply under the disability confident scheme before you submit your application.

Step 2 

Send your application directly to Korn Ferry comprising:

• A CV detailing your qualifications, employment history, skills and experience

• A covering letter outlining how your skills meet the requirements of the role

Please email these documents to: ApplicationsKF@kornferry.com 

If you require any adjustments or have questions about the process, you should contact the team as early as possible using the email listed under 'Contact details' at the end of the advertisement.

You will also be asked to share your CV, supporting statement and a short professional statement with the executive search firm.

Your application is not complete until all the information set out above is provided ahead of the published deadline for applications.

Overview of the application process

Public appointments are made on merit following a fair and open competition process which is conducted in accordance with the Governance Code for Public Appointments. We will deal with your application as quickly as possible and will keep you informed at key stages. We aim to conclude the appointment process within three months of the deadline for applications – this is in accordance with the Governance Code.

The assessment process

1. Ministers are responsible and accountable to Parliament for the public appointments made within their department. As a result, they must be consulted at every stage of the appointments process.

2. An Advisory Assessment Panel (“Panel”) is appointed by Ministers to assist them in their decision making. The role of the Panel is to decide, objectively, which candidates meet the eligibility criteria for the role.

3. At the shortlisting meeting the Panel will assess applications against the eligibility criteria and decide which candidates have best met the criteria, who should be recommended for interview. Ministers will then be consulted on the Panel’s recommended shortlist. If you have applied under the Disability Confident Scheme and you meet all the essential criteria, then you will also be invited for an interview.

4. Once the shortlist has been agreed by Ministers, you will be advised (by e-mail) whether you have been shortlisted. Those shortlisted will be invited to an interview.

5. The Panel will meet again to interview candidates and determine who is appointable to the role. The Panel may invite you to make a brief presentation at the start of the interview and will go on to question you about your skills and experience, including asking specific questions to assess whether you meet the criteria set out for the post. The Panel will also explore with you any potential conflicts of interest or any other issues arising from your personal and professional history which may impact on an appointment decision.

6. Details of the panel’s assessment of interviewed candidates are provided to Ministers, including whether they have judged a candidate to be appointable to the role. It is then for Ministers to determine merit and decide who should be appointed. In some circumstances, Ministers may choose not to appoint any candidates and re-run the competition.

7. Ministers may choose to meet with candidates before deciding the outcome. Candidates should therefore be prepared for a short time gap between interview and a final appointment decision being made. Candidates who have been interviewed will be kept informed of progress.

8. Once the decision on the appointment has been made, interviewed candidates will be advised of the outcome of their application, including whom they may approach for feedback. Successful candidates will be issued with their Terms & Conditions and a letter of appointment should they agree to take up the position.

Further information about appointments, including tips on applying, can be found on our guidance pages on gov.uk.

Advisory Assessment Panel (AAP)

Sean Jones – Departmental Official

HMT Director, Business, Energy, Enterprise and Growth (Panel Chair)

Sean Jones has no political activity to declare.

Vindi Banga – Public Body Representative

Chairman, UK Government Investments

Vindi Banga has no political activity to declare.

Bina Mehta Independent Panel Member – Independent Panel Member

Bina Mehta Independent Panel Member has no political activity to declare.

Advisory Assessment Panels (AAP) are chosen by ministers to assist them in their decision-making. These include a departmental official and an independent member. For competitions recruiting non-executive members of a board (apart from the Chair), the panel will usually include a representative from the public body concerned.

AAP’s perform a number of functions, including agreeing an assessment strategy with ministers, undertaking sifting, carrying out interviews in line with the advertised criteria and deciding objectively who meets the published selection criteria for the role before recommending to ministers which candidates they find appointable. It is then for the minister to decide who to appoint to the role.

Eligibility criteria

In general, you should have the right to work in the UK to be eligible to apply for a public appointment.

There are a small number of specialist roles that are not open to non-British citizens. Any nationality requirements will be specified in the vacancy details.

The Government expects all holders of public office to work to the highest personal and professional standards. 

You cannot be considered for a public appointment if:

• you are disqualified from acting as a company director  (under the Company Directors Disqualification Act 1986);

• have an unspent conviction on your criminal record;

• your estate has been sequestrated in Scotland or you enter into a debt arrangement programme under Part 1 of the Debt Arrangement and Attachment (Scotland) Act 2002 (asp 17) as the debtor or have, under Scots law, granted a trust deed for creditors.

When you apply, you should declare if:

• you are, or have been, bankrupt or you have made an arrangement with a creditor at any point, including the dates of this. 

• you are subject to a current police investigation.

You must inform the sponsor department if, during the application process, your circumstances change in respect of any of the above points. 

When you apply you should also declare any relevant interests, highlighting any that you think may call into question your ability to properly discharge the responsibilities of the role you are applying for. You should also declare any other matters which may mean you may not be able to meet the requirements of the Code of Conduct of Board Members (see Outside interests and reputational issues section below)

If you need further advice, please contact Peter.Guilder@kornferry.com

Security clearance

The successful candidate will be required to undertake Baseline Personnel Security Standard checks in line with the Civil Service guidelines. Additional Security Clearance may also be required for certain roles. However, where this applies, candidates will be notified during the appointment process. Further information on National Security Vetting can be found on the Gov.uk website here.

Additional information for candidates

Equality and diversity

We encourage applications from talented individuals from all backgrounds and across the whole of the United Kingdom. Public Offices and bodies are most effective when they reflect the diversity of the society they serve and this is an important part of the Government’s commitment to breaking down barriers to opportunity.

We collect and monitor diversity data about applicants’ characteristics, including people’s educational and professional backgrounds, to understand the diversity of applicants and appointees. As set out in section 3 of our privacy notice, we do this to ensure we are attracting a broad range of people and our selection processes are fair for everyone. Without this information, it is difficult to see whether the application process is having an unfair impact on certain groups or our changes are making a positive difference.

When you apply, you can select “prefer not to say” to any question you do not wish to answer. Once you submit your application, your responses are collected by the Cabinet Office and the government department(s) managing your application. We use this anonymised data to create reports on the timing and outcomes of our recruitment campaigns, as well as the diversity of our appointees. This transparency helps us create a fairer environment for everyone by highlighting where we need to do better.

Disability confident

We are a member of the Government’s Disability Confident scheme. We use the Disability Confident scheme symbol to show our commitment to good practice in appointing disabled people. The scheme helps our organisation recruit and retain the expertise of these applicants, supporting their journey into leadership roles in public life. 

As part of the scheme, the panel will aim to offer an interview to those who meet the essential criteria for the role, set out in the advertisement, and who have asked that their application be considered under the scheme. If a high volume of applications is received, the panel will ensure that a proportionate number of interviews are offered to disabled applicants that meet the minimum criteria, rather than all of those candidates.

Indicating that you wish your application to be considered under the scheme will not prejudice your application. By ‘essential criteria' we mean that you must provide evidence which demonstrates how you meet the level of competence required under each criteria. This does not mean that all disabled applicants are entitled to an interview. If you have any questions or want to discuss your application in confidence, please contact the team as early as possible using the email listed under 'Contact details' at the end of the advertisement.

Reasonable adjustments

We are committed to making reasonable adjustments to ensure applicants with disabilities and/or, long term conditions, covered under both the Equality Act 2010 (England, Scotland & Wales) and Disability Discrimination Act 1995 (Northern Ireland) are not substantially disadvantaged when applying for public appointments. 

We aim to create an accessible and supportive experience that allows every applicant to demonstrate their full range of talents and perspectives and work closely with applicants to ensure that any necessary reasonable adjustments are in place to remove any barriers. This can include changing the recruitment process to enable people who wish to apply to do so.

Some examples of common changes are:

• ensuring that application forms are available in different or accessible formats (for example, large print);
• making adaptations to interview locations including hybrid arrangements;
• allowing applicants to present their skills and experience in a different way, for example receiving interview themes in advance, having additional processing time during assessments, or choosing a communication style that best showcases their skills. Examples of different styles may include a video or audio application or a presentation in place of a supporting statement;
• giving additional detailed information on the selection and interview process in advance to allow applicants time to prepare themselves;
• arranging support such as British Sign Language (BSL) interpreters or allowing support workers;
• making provision for support animals to attend where possible;

If you require any reasonable adjustments, you will have the chance to request these early in the application process;

If you have any questions or want to discuss your application in confidence, you should contact the team as early as possible using the email listed under 'Contact details' at the end of the advertisement.

Principles of public life

The Seven Principles of Public Life (also known as the Nolan Principles) apply to anyone who works as a public office-holder.

1. Selflessness

Holders of public office should act solely in terms of the public interest.

2. Integrity

Holders of public office must avoid placing themselves under any obligation to people or organisations that might try inappropriately to influence them in their work. They should not act or take decisions in order to gain financial or other material benefits for themselves, their family, or their friends. They must declare and resolve any interests and relationships.

3. Objectivity

Holders of public office must act and take decisions impartially, fairly and on merit, using the best evidence and without discrimination or bias.

4. Accountability

Holders of public office are accountable to the public for their decisions and actions and must submit themselves to the scrutiny necessary to ensure this.

5. Openness

Holders of public office should act and take decisions in an open and transparent manner. Information should not be withheld from the public unless there are clear and lawful reasons for so doing.

6. Honesty

Holders of public office should be truthful.

7. Leadership

Holders of public office should exhibit these principles in their own behaviour and treat others with respect. They should actively promote and robustly support the principles and challenge poor behaviour wherever it occurs.

Code of conduct for board members

The Government expects all holders of public office to work to the highest personal and professional standards. In support of this, all non-executive board members of UK public bodies must abide by the principles set out in the Code of Conduct for Board Members of Public Bodies. The Code sets out the standards expected from those who serve on the boards of UK public bodies and will form part of your terms and conditions of appointment.

Management of outside interests and consideration of reputational issues

Holders of public office are expected to adhere and uphold the Seven Principles of Public Life and the Code of Conduct for Board Members of Public Bodies. Before you apply you should consider carefully: 

• any outside interests that you may have, such as shares you may hold in a company providing services to government; 
• any possible reputational issues arising from your past actions or public statements that you have made; 
• and/or - any political roles you hold or political campaigns you have supported; 

which may call into question your ability to do the role you are applying for.

You will need to answer relevant questions in relation to these points when making an application. Many conflicts of interest can be satisfactorily resolved and declaring a potential conflict does not prevent you from being interviewed. If you are shortlisted for an interview, the panel will discuss any potential conflicts with you during that interview, including any proposals you may have to mitigate them and record that in their advice to ministers. Alongside your own declaration, we will conduct appropriate checks, as part of which we will consider anything in the public domain related to your conduct or professional capacity. This may include searches of previous public statements and social media, blogs or any other publicly available information. The successful candidate(s) may be required to give up any conflicting interests and their other business and financial interests may be published in line with organisational policies. 

Details of declared political activity will be published when the appointment is announced, as required by the Governance Code (political activity is not a bar to appointment, but must be declared).

Status of appointment

As this is an office holder appointment, you will not become a member of the Civil Service. You will not be subject to the provisions of employment law.

Appointment and tenure of office

Appointments are for the term set out in this advert, with the possibility of re-appointment for a further term, at the discretion of Ministers.  Any re-appointment is subject to satisfactory annual appraisals of performance during the first term in the post. There is no automatic presumption of reappointment; each case should be considered on its own merits, taking into account a number of factors including, but not restricted to, the diversity of the current board and its balance of skills and experience. In most cases, the total time served in post will not exceed more than two terms or ten years in any one post. 

Remuneration, allowances and abatement

Remuneration for this role is treated as employment income and will be subject to tax and National Insurance contributions, both of which will be deducted at source under PAYE before you are paid. 

You can claim reimbursement for reasonable travel and subsistence costs which are properly and necessarily incurred on official business, in line with the travel and subsistence policy and rates for the organisation to which you are applying.

Pension and redundancy

This is an office holder appointment and does not attract any benefits under any Civil Service Pension Scheme. You will not be eligible for redundancy pay as you are not an employee. No other arrangements have been made for compensation upon the end of your term of appointment because an office holder who is appointed for a limited duration would have no expectation of serving beyond that period.

Application feedback

We will notify you of the status of your application. We regret that we are only able to offer detailed feedback to candidates who have been unsuccessful at the interview stage.

How to complain

We aim to process all applications as quickly as possible and to treat all applicants with courtesy.

Please contact Korn Ferry in the first instance if you would like to make a complaint regarding your application by emailing anna.Jackson@kornferry.com 

If you are not satisfied with how Korn Ferry dealt with your complaint, please contact the HMT public appointments team at 

They will acknowledge your complaint upon receipt and respond within 15 working days. 

Data protection

The Cabinet Office will use your data in line with our privacy policy.

The Treasury will use your data in line with its privacy policy 

The UKGI's privacy policy is here

Korn Ferry's policy is here

Attachments

• Candidate Pack

Contact details

For further information about the role, please contact Peter.Guilder@kornferry.com

For information regarding documents in alternate formats please contact Anna.Jackson@kornferry.com