The Government has launched a job search for the first chair of the planned national Infrastructure Bank.
The role is worth £120,000 a year for two days work a week - though the workload may vary depending on need - and the appointment will be three years subject to satisfactory annual appraisal.
Announced by chancellor Rishi Sunak at the Spending Review last autumn, the bank will be based in the north of England and operate UK-wide.
It is tasked with supporting and enabling private and public investment in infrastructure and the UK Government's ambition to create a net zero economy by 2050 and level up economic opportunities across the country.
'The bank is expected to advise, finance and co-invest alongside private sector investors in infrastructure projects, using a range of financial tools including loans, guarantees, equity and hybrid products; it will be available as a source of expert advice, including to certain public bodies, on developing and financing vital infrastructure,' government officials said.
Ministers aim for the bank to be operational in interim form from spring 2021, so it can play a role in supporting the UK’s economic recovery from the COVID-19 pandemic.
The Cabinet Office said: 'It will operate within a mandate set by government and have a high degree of operational independence. Through its leadership role, the bank will provide the market with the long-term certainty to build and support investor confidence.'
The applicant must have experience at senior level leadership chairing a board or serving on a board in a non-executive capacity, and ideally observing the UK Corporate Governance Code in a high-profile organisation.
Experience of working with government, an arm’s length body or related body is also preferred.
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