About us
The Shareholder Executive (ShEx) managed the government’s shareholder relationships with businesses owned or part-owned by the government. In April 2016 the Shareholder Executive was brought together with UK Financial Investments (UKFI) under a single holding company – UK Government Investments (UKGI). This is part of the government’s plan to deliver a centre of corporate finance and governance expertise for government.
The Shareholder Executive (ShEx) manages the government’s shareholder relationships with businesses owned or part-owned by the government. It also offers a wide range of corporate finance expertise and advice to government departments in order to ensure the taxpayer gets good value for money and plays a role in delivering the government’s digital strategies.
For more information on our role and approach see our latest annual review.
Responsibilities
We are responsible for:
- looking after a group of 23 state-owned businesses (from organisations as large as the Nuclear Decommissioning Authority (NDA) to smaller businesses like the Working Links)
- advising on the sale of government assets
- offering corporate finance expertise across government
- working with other departments to ensure the release of the electromagnetic spectrum held by the public sector
Priorities
British Business Bank and Public Data Group
In 2014 to 2015 our objectives and deliverables include:
- establishing a British Business Bank to help unlock finance for smaller businesses by obtaining state aid approval for the bank and its activities and aim to have it fully operational (following state aid approval) by 1 November 2014
Corporate Finance Practice
In 2014 to 2015 our objectives and deliverables include:
- ensuring that the Green Investment Bank investments are committed to the fullest extent possible with a target of £805 million committed for 2014 to 2015
- establishing a credible and appropriate path to privatisation
- implementing the Post Office’s new business model by converting 3000 branches under the Crown Network Transformation programme
- working closely with Department of Energy and Climate Change (DECC) to complete the Contract for Differences for Hinkley Point C
Portfolio
In 2014 to 2015 our objectives and deliverables include:
- managing the government’s residual shareholding in Royal Mail effectively and consider options for future ownership and/or divestment
- conducting a feasibility review as to whether selling the UK Holding in Eurostar would provide value for money and then proceed with the sales of HMG’s stake in Eurostar (the “UK Holding”)
- providing ongoing oversight and challenge to the NDA in progressing nuclear clean up
- support for NDA and DECC to create a robust evidence base of spending and income options to support the next Spending Review
- overseeing NDA’s finalisation of its site competitions and determination of optimal future model for Sellafield
Corporate
In 2014 to 2015 our objectives and deliverables include developing the Corporate Finance Profession (CFP) and build capability in delivering excellent corporate finance expertise in government.
Who we are
The Shareholder Executive is formed of 3 units.
Portfolio
We are responsible for the majority of the portfolio of government owned or part-owned businesses. The businesses include those where the Shareholder Executive has a clear shareholding mandate or a seat on the board. Our involvement in each business varies depending on our agreed role and ability to have the greatest impact:
- executive role: where we are accountable to ministers directly
- joint team role: where we work alongside shareholder teams within departments
- advisory role: where we advise shareholder teams within departments
We are also responsible for involvement in various Ministry of Defence (MoD) and Department of Health (DH) projects and for the release of electromagnetic spectrum held by the public sector.
For more information on the portfolio see Shareholder Executive: portfolio businesses
Corporate finance practice
We provide corporate finance advice to BIS and other government departments. We have a broad range of expertise covering corporate finance, corporate recovery and capital markets. Activities generally fall into 3 main categories: interventions (e.g. launch investment), companies in distress, and wider corporate finance advice (including advising on realisation of value from government assets). We are also responsible for a number of non-core assets where the government has no formal shareholder mandate. For more information on the assignments of the units see the Shareholder Executive annual review 2013 to 2014.
British Business Bank and Public Data Group
We are responsible for the establishment of a British Business Bank to help unlock finance for smaller businesses. We are also responsible for the government’s ownership of the Insolvency Service as well as the 4 businesses in the portfolio of government owned or part owned businesses that form the Public Data Group (PDG) – Met Office, Land Registry, Ordnance Survey and Companies House.