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 fortnightly and typically has between 6 and 10 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 |
---|---|---|---|---|
Noel Harwerth | One Savings Bank | Director | Fees | Will take legal guidance from the Director of Legal 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. |
Noel Harwerth | Scotia Bank Europe | Director | Fees | Will take legal guidance from the Director of Legal 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. |
Noel Harwerth | Department for Business and Trade | Director | N/A | Ex-officio directorship |
Noel Harwerth | Crown Agents Bank | Director | Fees | Will take legal guidance from the Director of Legal 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. |
Tim Frost | Polus Capital | Chair | Shareholding / fees | Declaration at each meeting will be given where relevant. |
Tim Frost | Foundation for Credit Counselling (StepChange Debt Charity) | Director | N/A | N/A |
Tim Frost | Illuminate Financial | |||
Tim Frost | LSE and Chair of LSE’s Investment Sub Committee | Emeritus | 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 | Polus Capital | 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 | Cairn Pathfinder Funds | Shareholding | Declaration at each meeting will be given where relevant for all shareholdings. | |
Tim Frost | Houghton Street Ventures Fund | 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 | Beyond Net Zero Fund | 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 | Rungway | 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 | Lloyds Banking Group | 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 | Alphawave | 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. |
Jackie Keogh | FCA | Senior Advisor | 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. |
Andrew Mitchell | None | N/A | N/A | N/A |
Charlotte Morgan | SMBC Bank International PLC | Director | Fees | Would recuse themselves from any discussions on such contracts that might arise at meetings attended at either body. Please note Charlotte is leaving the Board of SMBC on 30 August 2023. |
Charlotte Morgan | Union Bank of India (UK) Ltd | Director | Fees | Would recuse themselves from any discussions on such contracts that might arise at meetings attended at either body. Please note Charlotte is leaving the Board of Union Bank of India on 31 October 2023. |
Charlotte Morgan | University of Westminster | Governor | N/A | N/A |
Charlotte Morgan | London Syphonietta Productions Limited | Trustee/Director | N/A | N/A |
Charlotte Morgan | Second Movement | Trustee/Director | N/A | N/A |
Candida Morley | UK Government Investments | Director | Government | N/A |
Candida Morley | Scottish National Investment Bank | 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. |
Kim Wiehl | Women’s Business Development Council | Member | N/A | |
Kim Wiehl | Advisory Board Member of Thunderbird School of Global Management | Advisory Board | N/A | |
Kim Wiehl | American Arbitration Association | Chair | N/A |
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.