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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.

Notes

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

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 and buy-outs.

William Lazarus

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

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

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 for Business, Enterprise and Regulatory Reform replacing DTI - Department for Trade and Industry. Reproduced under the terms and conditions of the Click-Use Licence.


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Article Published/Sorted/Amended on Scopulus 2008-11-13 16:16:19 in Business Articles

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