Prime Minister David Cameron has announced that Stephen Green will take on the role as Minister of State for Trade and Investment.
Mr Green, who is currently the Group Chairman of HSBC, will help to lead the Government’s efforts to establish the UK as the most attractive location for international business investment and to drive growth in UK exports.
The position, which is unpaid, will report to both the Secretary of State for Business and the Foreign Secretary.
Mr Cameron said the appointment demonstrates the Government’s dedication to developing international relationships to boost British businesses abroad and drive exports and investment.
“I am delighted to appoint Stephen to this vital role. With Stephen’s experience and expertise, I know he will make an invaluable contribution towards this crucial agenda, helping to drive strong economic growth in the UK.
Working across the Department for Business and the Foreign Office, this role reflects the enormous importance this Government places on forging strong international relationships to open new trade links, promote British business overseas and maximise inward investment to the UK.”
Speaking after the announcement, Foreign Secretary William Hague said:
“Under the Coalition government, the Foreign Office is making economic and commercial objectives a priority in our international engagement. Stephen’s appointment will hugely strengthen our work to secure the UK’s economic recovery, promote open markets and inward investment and support greater access for British companies worldwide.”
Mr Green will become the Minister of State for Trade and Investment early next year. He is expected to step down from his role at HSBC before the end of this year.
After accepting the role, Mr Green said:
“It is an honour to accept this new role with Her Majesty’s Government, serving Britain in the vital areas of trade and investment. In an increasingly competitive and international world, trade and investment are ever more critical to Britain’s economic success and I am delighted to be joining the Government at this exciting and challenging time.”