The UK Infrastructure Bank has appointed Chris Grigg as its new chair.
Chris Grigg CBE, who has more than 30 years’ experience across the real estate and financial services industries, was appointed following a fair and open competition.
He starts the job on Tuesday (May 4) and the Bank will launch in an interim form later in the Spring. Mr Grigg has held a range of leadership roles including Chief Executive of Barclays Commercial Bank and, most recently, at British Land, a property development and investment company.
The UKIB – headquartered in Leeds – will receive an initial £12 billion of capital and £10 billion of government guarantees, which will enable it to unlock more than £40 billion of financing for key projects across the UK. It will prioritise investment in projects that help tackle climate change, helping the UK to meet its net zero target by 2050, and level up the country by supporting regional and local economic growth.
Grigg said: “It is a great privilege to be the inaugural Chair of the UK Infrastructure Bank. I am excited to lead this organisation as we build it from the ground up and ensure it provides vital financing for the UK infrastructure market and local authorities to support the transition to net zero and spread economic opportunity across the whole of the UK. I look forward to getting started.”
This post has originally been featured in Property Wire.