Shaun Kingsbury, Europe boss of private equity firm Hudson Clean Energy, to head up the bank

Shaun Kingsbury has been named as the first chief executive of the UK Green Investment Bank.

Business Secretary Vince Cable announced the appointment of the Europe boss of private equity firm Hudson Clean Energy Partners to the helm of the bank.

A long-time renewable-energy investor, Kingsbury was a founding partner of Pulsar Energy Capital and advised 3i on European opportunities. He also founded and leads the Low Carbon Finance Group

Six new non-executive directors were also named to work alongside bank chairman Lord Smith of Kelvin and deputy chair Sir Adrian Montague, who were both appointed in May.

Among the new non-execs is Heathrow Airport finance director Fred Maroudas, who currently chairs the UK Green Investments investment committee and is deputy chairman elect of Local Partnerships LLP. A full list of the non-executive directors appears below.

Cable said he was extremely pleased with the calibre of the latest appointments.

“I have every confidence that the team will build on the good progress already made, leading the bank into full operation and developing a truly ground breaking institution,” he said.

All of the latest appointments will take up their posts at the end of October.

The UK Green Investment Bank is designed to accelerate private sector financing in offshore wind-power generation, waste processing and recycling, energy-from-waste generation, non-domestic energy efficiency and will support the Green Deal.

It is expected to be fully operational later this year, subject to state-aid approval.

UK Green Investment Bank’s new non-executive directors:

  • Prof Dame Julia King, vice-chancellor of Aston University
  • Fred Maroudas, finance director of Heathrow Airport.
  • Tom Murley, renewable energy team leader at HgCapital
  • David Nish, chief executive at Standard Life
  • Isobel Sharp, advisor to Deloitte LLP
  • Tessa Tennant, innovator in sustainability finance