Project Finance Adviser appointed
Geoffrey Spence has been appointed as an independent adviser to the Treasury on project finance by the Financial Secretary to the Treasury.
HM Treasury is the lead department for delivering the government’s mission to kickstart economic growth and secure the highest sustained growth in G7. Delivering on this mission requires interaction with complex policy issues.
First-hand experience in innovative financing structures for infrastructure and growth sectors, will help ensure the UK’s policy position in this space achieves intended objectives in practice.
To support these objectives, the Financial Secretary to the Treasury has appointed Geoffrey Spence for a fixed 12-month term, on a temporary part-time basis, starting in January 2025. This will be a direct ministerial appointment to provide external expertise to the Treasury on project finance, and the role will be unremunerated.
His responsibilities will include advising the Treasury on:
- Financial transactions, blended finance, and other innovative financing structures for public and private investment to support the government’s priorities.
- Engagement across the UK’s public financial institution landscape.
Biography
Geoffrey Spence has 24 years’ experience with investment banks, specialising in the financing of major projects in utilities, energy and infrastructure, including as Global Head of Infrastructure at HSBC. He served as Special Adviser to the Chancellor of the Exchequer between 2008-2010, and served as Chief Executive of Infrastructure UK (as a Senior Civil Servant), leading HM Treasury’s approach to infrastructure policy and delivery between 2011-2016. Since 2016, Geoffrey has been a member of government’s Thames Estuary Commission; Global Head of Infrastructure, Resources and Energy for Lloyds Bank; and Non-Executive Chair of Jersey Ports.