Our governance

Details of UK Export Finance's organisation and management structure.

Management structure

The Chief Executive is responsible for all our activities as the department’s Accounting Officer, and is supported by the Executive Committee, the UK Export Finance Board and the Export Guarantees Advisory Council.

Executive Committee

The Executive Committee is our senior policy-making body and it is responsible for advising the Chief Executive in his role as the Accounting Officer in the ongoing management of our business. It is chaired by the Chief Executive, meets weekly and typically has between 4 to 6 items on each agenda.

Areas it advises on include:

  • corporate governance
  • the allocation of financial and human resources
  • operational decision making
  • organisational performance

The Executive Committee is responsible for advising the Chief Executive.

UK Export Finance Board

The UK Export Finance Board supports the Accounting Officer in the management of UK Export Finance through operational oversight, by providing advice, challenge and assurance. It meets at least 8 times per year, typically with a similar number of items on the agenda as the Executive Committee.

The Board advises the Accounting Officer on all matters of material importance to the department as defined in its Terms of Reference.

The Chairman and non-executive Directors of the Board make regular declarations as to any Directorships or substantial shareholdings they may hold.

A substantial shareholding is defined as shares in any one company worth more than £50,000, or more than 1% of the share capital of any company

Chair and non-executive director – directorships and substantial shareholdings

Board member Name of company or organisation Position held Type of interest e.g. pay, fees, shareholding Other relevant information
Robert Gillespie Burford Capital Director Fees Will take legal guidance from the Director of Legal and Compliance in relation to any matters which the Member believes may give rise to a conflict of interest. Member will recuse themselves from any discussions relating to company.
Robert Gillespie Spirit Yacht Holdings Ltd Chair Shareholding Will take legal guidance from the Director of Legal and Compliance in relation to any matters which the Member believes may give rise to a conflict of interest. Member will recuse themselves from any discussions relating to company.
Robert Gillespie Social Finance Director N/A N/A
Robert Gillespie DBT Director N/A Ex-officio directorship
Robert Gillespie UBS   Shareholding Declaration at each meeting will be given where relevant.
Robert Gillespie Natwest   Shareholding Declaration at each meeting will be given where relevant.
Tim Frost Polus Capital Chair Shareholding / fees Declaration at each meeting will be given where relevant.
Tim Frost LSE and Chair of LSE’s Investment Sub Committee Emeritus Governor N/A N/A
Tim Frost Crocus Field Ltd   Shareholding Declaration at each meeting will be given where relevant for all
Tim Frost Leeson Street Projects Ltd   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost Cloud Margin Ltd   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost Illuminate Financial GP   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost Encompass Ltd   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost Genesis Global   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost Helios Data   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost Eagle Alpha   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost IceMOS Technologies Corporation   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost TeamFeePay   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost Unilever   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost Danesfort   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost Alphawave   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Tim Frost Next Fifteen Communications   Shareholding Declaration at each meeting will be given where relevant for all shareholdings.
Vanessa Havard-Williams Linklaters Consultant Fees Vanessa has agreed conflicts management procedures in place, and her consultancy role with Linklaters does not in any event cover project finance mandates which may involve UKEF.
Vanessa Havard-Williams UK Transition Finance Market Review Chair N/A unpaid N/A.
Jackie Keogh FCA Independent Chair of the Interim Working Group that seeks to reform the industry governance arrangements Fees Regulator - N/A
Jackie Keogh Western Union Company Shareholder Shareholding Declaration at each meeting will be given where relevant for shareholdings.
Jackie Keogh Lloyds Banking Group Shareholder Shareholding Declaration at each meeting will be given where relevant for shareholdings.
Joanna Crellin None N/A N/A N/A
Charlotte Morgan University of Westminster Governor N/A N/A
Charlotte Morgan Second Movement Trustee/Director N/A N/A
Kim Wiehl American Arbitration Association Chair N/A  
Kim Wiehl Wiehl Properties Co-owner Shareholding 50% shareholding in private family owned business with interests in commercial real estate in New England
Samir Parkash N/A N/A N/A N/A
Cameron Fox N/A N/A N/A N/A
Tim Reid Martyr Worthy Village Hall Trustee N/A N/A
Tim Reid Winchester & District Young Carers Trustee N/A N/A
Tim Reid HSBC Shareholder Shareholding Declaration at each meeting will be given where relevant.

Committee Publications

Publications relating to the Executive Committee and the UK Export Finance Board, including terms of reference and meeting minutes, are available here.

The Export Guarantees Advisory Council

The Export Guarantees Advisory Council is appointed by UK Export Finance’s ministers to provide advice to them on UK Export Finance matters. In practice, the Council focuses on the principles that should guide our operations, in particular around the following areas:

  • environmental impacts
  • anti-bribery & corruption
  • sustainability
  • disclosure

How we make decisions

We have a committee structure for advising on operational decision-making. Committees, rather than individuals, advise the decision-taker, who may be the Accounting Officer or someone delegated by the Accounting Officer.

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