UK Financial Investments Limited
|UK Financial Investments Limited|
|Founded||Nov. 3, 2008|
|Products||Company set up to manage U.K. government’s stakes in banks|
UK Financial Investments Limited (UKFI) is a company set up to manage the U.K. government’s stakes in banks including Royal Bank of Scotland (RBS) and Northern Rock. It was announced in November of 2008 by HM Treasury.
UKFI's original mandate is that it would work to ensure management incentives for banks in which it has shareholdings based on maximizing long-term value and restricting the potential for rewarding failure. It would also oversee the conditions of the recapitalization fund, including maintaining, over its next three years, the availability and active marketing of competitively-priced lending to home owners and small businesses at 2007 levels.
Products and Services
Membership of the UKFI board includes a private sector chair, three non-executive private sector members, a chief executive and two senior government officials from HM Treasury and a shareholder executive.
- New Company To Manage Government’s Shareholding In Banks. HM Treasury.
- Press Release. HM Treasury.