The UK India Business Council has appointed Lord Mervyn Davies as its new chairman.
Lord Davies will take on the role from September 1, 2017 and has agreed to serve an initial three-year term.
The current Chair, the Rt. Hon. Patricia Hewitt is stepping down after eight years in the role. During this period, the UK India Business Council has grown into the leading market entry advisory and advocacy consultancy focused on the UK and India trade opportunity.
It supports the UK Government in both its volume services as well as providing a business voice in Government to Government discussions. The UKIBC is also increasing the range of advisory, support and consultancy services it provides to businesses.
Lord Davies’ unique experience of global business of the UK and Indian Governments, and of Indian corporates will aid him in the new role at UKIBC.
“The economic relationship between India and the UK has always been important for businesses of both countries,” said Lord Davies. “In the current environment, with Brexit becoming more of a reality, it assumes even more critical importance. The role which the UK India Business Council plays is vital and unique. And I believe we could and should be doing more. There is an opportunity to create in the UKIBC an organisation which fundamentally shapes and drives forward a business-led agenda with material benefits for both countries. I am very excited to be helping the team to meet this challenge.”
Lord Davies is a Partner and the Chairman of Corsair Capital, a private equity firm specialising in financial services. He is the Chairman of LetterOne, Senior Independent Director of Diageo, and Senior Adviser to Teneo. He has a wide range of interests, including being Chairman of the Royal Academy of Arts Trustees and Chairman of the Garden Bridge Trust. He was Minister for Trade, Investment, Small Business and Infrastructure from January 2008 until May 2010.
Prior to that, he was Chairman and previously CEO, and served on the Board of Standard Chartered for more than 12 years. He was awarded a CBE for his services to the financial sector and the community in Hong Kong in June 2002 where he served as a member of the HK Exchange Fund for seven years. Lord Davies is also a JP in Hong Kong.
Outgoing UK India Business Council Chair Rt. Hon. Patricia Hewitt said: “I am delighted that Lord Davies has agreed to replace me as the UK India Business Council Chair. Although it is with sadness that I step down from my role, I am overwhelmingly optimistic for the future of both the UKIBC and the UK-India economic relationship. The last eight years have seen us grow as an organisation, and we have contributed to the UK-India partnership, which Mr Modi has described as an “unbeatable combination”. This is an exciting point in the history of both countries, and I wish Lord Davies all the best for the coming years.”
UK India Business Council CEO, Richard Heald OBE said: “I am delighted to welcome Lord Davies as our new Chair. He has a wealth of expertise stretching from finance, trade, and investment, through to the inner workings of government. He joins us at a fascinating time for the UK-India relationship, with new opportunities on the horizon for both countries. I very much look forward to working with Lord Davies and, through his vast experience, catalysing the development of the UK-India relationship.”