Ex-HSBC boss hired to head Yorkshire-based UK infrastructure bank
Former HSBC boss John Flint has been appointed as the first permanent head of the Government’s new infrastructure bank – which is based in Leeds.
Chancellor Rishi Sunak said Flint’s appointment is an “important milestone” for the bank, which launched in June with the aim of backing investment in renewable energy, transport, digital infrastructure, water and waste utilities.
It will also boost local and regional economic growth as part of the Government’s “levelling-up” programme.
The bank will receive an initial £12bn of capital and will be able to issue a further £10bn of Government guarantees, helping to unlock more than £40bn of investment overall.
Yorkshire-born Flint is due to start as chief executive of the bank on 27 September and will be based at its headquarters at One, The Embankment, Neville Street.
Flint said: “I am honoured to be appointed the first permanent CEO of the UK Infrastructure Bank.
“This is a unique leadership opportunity. The UK Infrastructure Bank’s purpose is clear, and the opportunity to play a role in accelerating the UK’s transition to a low carbon economy, and catalysing regional economic growth is exciting.
“I look forward to getting started on the new adventure, meeting my new colleagues, and building an outstanding team.”
Flint left HSBC in 2019 after less than 18 months as chief executive. He previously spent 30 years at the bank, having joined it as a graduate trainee in 1989.
He held various senior leadership positions across the business including as chief executive of global asset management, group treasurer and deputy head of global markets.
Sunak said: “I am delighted to appoint John Flint as the first permanent CEO of the UK Infrastructure Bank.
“This is an important milestone for the Bank in its efforts to tackle climate change and level up, while creating new opportunities across the UK as part of our Plan for Jobs.
“Mr Flint brings outstanding financial and management expertise which will be crucial to leading the organisation as it grows its operations and starts to deliver on its mission to finance projects in every region of the UK.”
Chris Grigg, chairman of the bank, added: “The CEO will play a pivotal role in shaping the organisation’s culture, taking charge of its development and performance, and leading its talented workforce.
“John Flint has an outstanding track record and deep experience within both finance and senior leadership positions; I look forward to working with him closely in his new position.
“I would also like to offer my personal thanks to John Mahon, who has served as interim CEO with considerable skill, for his many contributions to the Bank – steering it through a crucial development period.”
