Budenberg appointed UKFI chief executive

Former UBS banker Robin Budenberg has been appointed chief executive of UK Financial Investments, the body established to manage the UK government's investments in financial institutions including the Royal Bank of Scotland (RBS), Lloyds TSB and Northern Rock.

Budenberg will replace John Kingman, who had served as chief executive of UKFI since the body's inception on November 3, 2008. Kingman, who previously served as second permanent secretary to the UK Treasury, announced his intention to

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