Minister for Investment

Lord Grimstone of Boscobel Kt

Biography

Lord Grimstone of Boscobel Kt was appointed unpaid Minister for Investment jointly at the Department for International Trade and the Department for Business, Energy & Industrial Strategy on 18 March 2020.

Before joining government, his career spanned the private and public sectors. His roles have included:

  • chairman of Barclays Bank plc and Standard Life Aberdeen
  • lead non-executive on the board of the Ministry of Defence
  • chairman of financial services body, TheCityUK, from 2012 to 2015
  • member of HM Treasury’s Financial Services Trade and Investment Board

Lord Grimstone has held board appointments across many sectors and served as one of the UK’s Business Ambassadors.

He also:

He has a particular interest in UK-China and UK-India relations. He has joined several Prime Ministerial visits, including the annual Economic and Financial Dialogues between the countries. He also chaired TheCityUK China Market Advisory Group.

Lord Grimstone was knighted in 2014 for public service to defence and business.

Minister for Investment

The Minister for Investment’s responsibilities include:

  • developing a new investment strategy
  • promoting investment across all sectors
  • business investor relations
  • leading on the strategic relationship management programme cross-Whitehall, including account management of large UK investors
  • covering departmental business in the House of Lords
  • global marketing to attract investment
  • increasing foreign direct investment (FDI) and portfolio investment into the UK
  • promoting and supporting outward direct investment (ODI)
  • Official Development Assistance (ODA)

The minister does not have a formal area of policy responsibility in the Department for Business, Energy & Industrial Strategy (BEIS).

He works to ensure BEIS policy and sectoral engagement is aligned with DIT’s investment objectives.

More about this role

Department for International Trade and Department for Business, Energy & Industrial Strategy

Previous roles in government

  1. Lead Non-Executive Board Member