Appointments to the Industrial Development Advisory Board
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The Government has made four new appointments to a Board which advises the
Secretary of State on how public funds can help secure major investment projects
for the English regions.
Recent cases have included securing jobs at Vauxhall (Ellesmere Port), Nissan
(Sunderland) and the redevelopment of Birmingham New Street station.
The new appointees, who bring a wealth of business experience, are:
* Mr Simon Collins, KPMG
* Mr William Lazarus, Norbain Group
* Mr Paul Mullins, Bank of America
* Mr George Rose, BAES
They will serve the Board for a term of 3 years each.
Mark Seligman (Credit Suisse), who has served on the Board for 3 years will
become Chair of IDAB from 1 January 2009 and Dermot Mathias (BDO Stoy Hayward)
has been reappointed to the Board for a further 2 years. Robert Swannell (Vice
Chairman, Citi Europe) has retired from the Board, after 9 years of service. The
current Chair, Gordon Page (Cobham) will retire in December 2008.
1. The Board, which was first established in 1970, is a statutory body set up
under Section 10 of the Industrial Development Act 1982 to advise the Secretary
of State on the exercise of his powers under Sections 7 and 8 of that Act, which
cover the provision of selective financial assistance to industry. The Board
comprises of respected people who collectively bring a balance of expertise and
competence in industry, banking, accountancy and finance to advise Ministers on
individual applications for the Grant for Business Investment (GBI) where the
grant sought is £2m or over. The principal criterion for membership is senior
level experience of large investment decisions in business.
2. The new chair, Mark Seligman, is a senior adviser to Credit Suisse, and
previously headed the UK investment bank. Previous Chairs of IDAB include Sir
Ronald Halstead, Sir Anthony Cleaver, and Sir Victor Blank.
3. All appointments are part-time and unpaid.
4. Notes on the selected candidates are below:
Simon Collins is the Chief Executive of the corporate finance practice of
KPMG. Mr Collins has a background in investment banking (with SG Warburg and
NatWest Markets) and in debt markets, particularly with large corporate loans
Mr. Lazarus is currently Finance Director of Norbain Group. He has twenty
years' experience of serving on the boards of private equity and quoted
companies all of whom have had operations in both the UK and overseas.
Paul Mullins is an investment banker with Bank of America where he heads the
European Global Industries and Natural Resources group. He worked for many years
at Schroders and subsequently at Citi.
George Rose is finance director of BAES. He has significant experience in UK
industry and credibility within UK and international business, and the City.
About the Author
© Crown Copyright. Material taken from the BERR- Department
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Article Published/Sorted/Amended on Scopulus 2008-11-13 16:16:19 in Business Articles