Business Secretary Vince Cable has announced the latest executives to join the UK Green Investment Bank (UK GIB).

Shaun Kingsbury has been appointed as the Chief Executive. He joins the UK GIB from the private equity firm Hudson Clean Energy Partners where he was responsible for its European activities.

Kingsbury will work alongside the Chair Lord Smith of Kelvin and Deputy Chair Sir Adrian Montague who were appointed by Vince Cable in May 2012.

Six new Non-Executive Directors have also been appointed. Between them they have a wealth of experience with backgrounds in universities, business, investment funds, equity finance and the low carbon sector.They are: Professor Dame Julia King, Fred Maroudas, Tom Murley, David Nish, Isobel Sharp, and Tessa Tennant.

Business Secretary Vince Cable said:

“I am delighted that we have been able to appoint people of such high calibre to the Board of the UK Green Investment Bank. 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.”

Shaun Kingsbury said:

“I am delighted to have been given the opportunity to become the first Chief Executive of the UK Green Investment Bank. The Bank has the important and exciting principal task of allocating capital to projects which can both enhance economic competitiveness and provide leadership in environmental business performance.”

The CEO and non-executive directors will take up their posts in late October.