Santander UK has named Shriti Vadera, a minister in Gordon Brown’s government during the financial crisis, as its new chairman.
Vadera will join the board of Santander UK as joint deputy chairman in January before succeeding Terence Burns in March next year.
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From 2007 to 2009, she was a Labour minister in the Cabinet Office, Business Department and International Development Department and served in the UK’s House of Lords.
Vadera spent 14 years at the investment bank UBS and eight years as an adviser in the UK Treasury under former Prime Minister Gordon Brown during the height of the Eurozone financial crisis.
She also held non-executive roles at companies like BHP Billiton and AstraZeneca and also worked with G20 group, an international forum for the governments and central bank governors from 20 major economies.
Emilio Botin, the chairman of Banco Santander, said: "Her deep expertise in UK and global economies as well as her banking experience add to her credentials as a strong, independent non-executive chairman. She is committed to building on our record as a scale challenger in British banking."
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