THE UK INFRASTRUCTURE BANK, designed to help the UK reach its net zero carbon emissions target, has appointed British Land’s CEO as its first board chairperson.
Chris Grigg who received a CBE this year for his services during the pandemic has a 30-year background in property development and financial services.
The Government says he was appointed following a fair and open competition.
Grigg starts the job on 4 May and the Bank will launch in an interim form on 17 May 2021.
Chris Grigg is also a former Chief Executive of Barclays Commercial Bank and has worked for investment banks Morgan Grenfell and Goldman Sachs.
The UK Infrastructure Bank (UKIB) in Leeds will receive an initial £12 billion of capital and £10 billion of government guarantees. The backing will unlock £40 billion of financing for UK projects tackling climate change.
Chris Grigg will lead the Bank’s board part time and set its strategic direction for an initial three-years. He said: “I am excited to lead this organisation as we build it from the ground up and ensure it provides vital financing for the UK infrastructure market and local authorities to support the transition to net zero and spread economic opportunity across the whole of the UK.”
A Policy Design paper for the UK Infrastructure Bank has been published.