Non-Executive Director, National Wealth Fund

The Chancellor of the Exchequer wishes to appoint three new Non-Executive Directors to the Board of Directors of the National Wealth Fund (NWF). The Board is responsible for providing leadership, setting strategic direction, reviewing the performance of management, and ensuring that the obligations to the shareholder and other stakeholders are understood and met.

The NWF is the UK government’s primary Public Financial Institution and is at the forefront of investing public money for our future. To date the NWF, and its predecessor organisation the UK Infrastructure Bank (UKIB), has invested £5.3 billion, mobilising £12.9 billion of private finance, and created or supported over 20,000 jobs. Through its leadership role, the NWF provides markets with the long-term certainty to build and supports investor confidence. It invests in key projects to reduce carbon emissions, create jobs, improve the UK’s economic security, and support regional and local authorities to invest in their areas. The objectives of the NWF are reflected in its triple bottom line: helping deliver the government's growth and clean energy missions, generating a return for the taxpayer, and crowding in private capital.

The Chancellor has set the ambition to go further over the course of this parliament, entrusting NWF with additional capital to be deployed over and above the original commitment. The NWF will have £27.8 billion of financial capacity and an increased risk appetite with up to £7 billion in economic capital to hold against investments. The NWF is uniquely placed to bridge the gap between public ambition and private sector finance, playing a pivotal role in driving growth as an engrained part of the UK’s financial architecture. Its mandate is set out in its Strategic Steer from the Chancellor of the Exchequer, although it will operate with a high degree of operational independence in its day-to-day activities, especially with regard to investment decisions.

To ensure the board continues to have the right blend of skills and experience to support the strategic ambitions and activities of the NWF, three new Non-Executive Directors (NEDs) are being sought to the board. NEDs are expected to contribute to matters ranging, for example, from supporting the government's growth and clean energy missions to the management of a wide variety of risks, as well as assessing the different strategies and interventions that might be required for different parts of the UK where there is an undersupply of private finance. The board is also responsible for the review and approval of lending and investment decisions above a certain threshold.

Candidates will have senior, board level leadership experience with a strong track record of delivery and will bring demonstrable knowledge and experience in one or more of the following areas, or the ability to quickly grasp the key issues in:

• Working with sub-national, mayoral, regional, and local government or devolved governments and an understanding of project development and financing with these authorities.
• Experience of working in finance and risk management with exposure to an audit and risk committee of a financial entity, comparable business, or equivalent experience. 
• Structuring, monitoring, or managing financing transactions from either a banking or principal perspective.

NWF has retained Russell Reynolds Associates to advise on this appointment. For further information about the position and additional details on qualifications, requirements, terms and conditions of service and how to apply, please visit: Executive Opportunities | Russell Reynolds Associates.

 The closing date for applications is 23:55 on 21st May 2025.