UKGI was formed earlier this year, bringing together the staff and functions of the Shareholder Executive and UK Financial Investments (UKFI) into one company.
It acts as the government’s centre of excellence in corporate finance and corporate governance, supporting departments with expert advice on commercial tasks as well as returning government investments back to the private sector.
Mr Palley will bring years of experience in investment management with him to his new role.
He began his career at Chase Manhattan Bank and Bain and Company before a 17-year career as Managing Partner of BC Partners, which he helped to build to one of the largest and most successful investment houses in Europe.
Most recently he has been the Executive Chairman of Centrebridge Europe and he is currently a Senior Advisor to Towerbrook Capital Partners Special Situations Fund. He is also currently an Executive Trustee of The Tate Foundation and is a Non-Executive Director of Land Securities plc, the largest property company in the UK.
UKGI Chairman Robert Swannell said:
I am pleased to announce Simon Palley as a non-executive director on the UKGI Board. He will bring a wealth of relevant experience from his successful career in private equity to support our new company with our varied and challenging objectives. I look forward very much to working with him.
Simon Palley said:
I am delighted to take up the role of non-executive at UKGI at the beginning of its exciting journey. I look forward to joining the board and working with the organisation to help it deliver its objectives.