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Commercial Secretary to the Treasury: Lord Sassoon
Lord Sassoon was appointed as the first Commercial Secretary to the Treasury in May 2010.
James Sassoon spent most of his career in the City, starting at KPMG (Thomson McLintock & Co) in 1977. From 1985 he was at SG Warburg (latterly UBS Warburg), leading the firm’s global privatisation business and ending as Vice-Chairman, Investment Banking.
In 2002, he joined HM Treasury as Managing Director, Finance, Regulation and Industry. In this position, he also chaired the Standing Committee on Financial Stability, was a non-executive director of Partnerships UK and sat on the global Financial Stability Forum and on the EU Financial Services Committee. From 2006 to 2008 Sir James was the Chancellor’s Representative for Promotion of the City and in 2007/08 served as President of the Financial Action Task Force (the global anti-money laundering and counter-terrorist financing organisation).
In 2008-10, he acted as an advisor to the Shadow Chancellor, was a member of the Economic Recovery Committee of the Shadow Cabinet and conducted The Tripartite Review.
Other positions held include chairman of The Merchants Trust plc 2010 (director 2006-10), chairman of the ifs School of Finance 2009-10, director of the Nuclear Liabilities Fund 2008-10, trustee of The British Museum 2009-10 and of the National Gallery Trust 2002-09.
Born in 1955; educated at Eton and Oxford; FCA; appointed Knight Bachelor 2007; joined the House of Lords in 2010; married with three children.
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