Lord Sassoon of Ashley Park

Biography

Lord Sassoon was appointed as the first Commercial Secretary to the Treasury in May 2010 and appointed to the House of Lords in the same year. He is a Conservative member of the House of Lords.

Education

He was educated at Eton and Oxford.

Political career

In 2002, Lord Sassoon 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, he was the Chancellor’s Representative for Promotion of the City and from 2007 to 2008 served as President of the Financial Action Task Force (the global anti-money laundering and counter-terrorist financing organisation).

From 2008 to 2010 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.

Career outside politics

Lord 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.

He has also served as Chairman of The Merchants Trust plc 2010 (and as Director from 2006 to 2010) and was Chairman of the ifs School of Finance from 2009 to 2010. He was Director of the Nuclear Liabilities Fund from 2008 to 2010, Trustee of The British Museum from 2009 to 2010 and of the National Gallery Trust between 2002 and 2009.

Personal life

Lord Sassoon is married with 3 children.

Announcements

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• Treasury announces plans to find £1.5 billion savings across PFI contracts
  • 20 January 2014
  • Press release
• Response by Lord Sassoon to Kuwaiti Finance Minister Dr Nayef Falah Al Hajraf on the sixtieth anniversary of the Kuwait Investment Office
  • 28 November 2012
  • Speech
• Speech by the Commercial Secretary to the Treasury, Lord Sassoon to the Middle East Association
  • 25 October 2012
  • Speech
• Speech by the Commercial Secretary to the Treasury, Lord Sassoon on inward investment in Infrastructure to the Global Investor Conference
  • 26 July 2012
  • Speech
• Government calls for action to address damaging impacts of cyclicality in the water sector
  • 23 July 2012
  • Press release
• Changes to Money Laundering Regulations to reduce burden on British businesses
  • 17 July 2012
  • Press release
• Speech by the Commercial Secretary to the Treasury, Lord Sassoon; Summer Lecture to the British Bankers’ Association
  • 20 June 2012
  • Speech
• Speech by the Commercial Secretary to the Treasury, Lord Sassoon, London Hong Kong RMB conference
  • 14 June 2012
  • Speech
• Government is on track to cut cost of delivering infrastructure
  • 23 April 2012
  • Press release
• UK welcomes new standards to combat money laundering and terrorist financing
  • 16 February 2012
  • Press release

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