Charles will be responsible for the department’s economics ministry functions.
Charles has been Director General of Financial Services at HM Treasury since early 2013. He fills the Second Permanent Secretary post vacated by John Kingman who has been Acting Permanent Secretary to the Department and who leaves to become the new Chair of Legal & General.
As Second Permanent Secretary, Charles will have overall responsibility for overseeing and driving the growth, financial services and infrastructures agendas in the Treasury.
He will continue to serve as a member of the Executive Management Board at the Treasury, and will also play an important role in the collective leadership of the department and wider Civil Service.
Charles brings a wide array of expertise and experience to the role. He worked for over 25 years in the private sector prior to joining the Treasury. Since 2013 he has been responsible for all issues relating to financial services, financial regulation and financial stability, in the department. He has also been one of the UK representatives on the Financial Stability Board as well as representing the Treasury on the Bank of England’s Financial Policy Committee.
Before joining the Treasury, he was a Senior Partner at McKinsey & Company, and served in a number of leadership roles in both London and New York. In 2009, he became the London-based Director of the McKinsey Global Institute. In 2011, he was elected to the global board of McKinsey & Company.
Charles will start his new position with immediate effect on Monday 4 July, alongside new Permanent Secretary, Tom Scholar who also takes up his post at the Treasury, moving from the Cabinet Office as the Prime Minister’s Adviser for European and Global Issues and Head of the European and Global Issues Secretariat.