John Kingman (businessman)

Sir John Oliver Frank Kingman KCB (born 24 April 1969) is Chairman of Legal and General plc. He is also Chair of UK Research and Innovation (UKRI), which oversees £6bn a year of Government science and innovation funding. He is currently undertaking an independent review of the Financial Reporting Council.

He is a former Second Permanent Secretary to HM Treasury. He is the son of Sir John Frank Charles Kingman FRS.

Career

At the Treasury, Kingman was closely involved with the response to the financial crisis. In 2007-8 he led the process leading to nationalisation of Northern Rock, and in October 2008 he led negotiations with RBS, Lloyds Banking Group and HBOS on their £37bn recapitalisation. In November 2008 he was appointed as first chief executive of UK Financial Investments, the holding company for the Government's bank holdings.^[1]^[2]

More recently at the Treasury Kingman oversaw: selling £16bn of Lloyds Banking Group shares; successful first sale of RBS shares; and the largest-ever UK privatisation (sale of £13bn of UKAR mortgage assets). He oversaw significant leadership changes in financial regulators (replacing Martin Wheatley with Andrew Bailey at FCA, and appointment of Sam Woods at PRA). Kingman led on liberalisation of the annuity market and creation of the National Infrastructure Commission; he negotiated Greater Manchester's devolution deal, introducing an elected Mayor. As acting Permanent Secretary to HM Treasury in June 2016, Kingman had to handle the immediate market fallout from the EU referendum.

From 2010-2012 Kingman worked at Rothschild, the investment bank, where he was Global co-head of the Financial Institutions Group. He is now a senior adviser.

Previous roles in the Treasury included: Press Secretary to the Chancellor of the Exchequer; Director of the Enterprise and Growth Unit; and Managing Director responsible for public spending control. In 2004 Kingman led a cross-Government 10-year review of UK science funding. From 2003-6 he was a board Director of the European Investment Bank.

From 1995-97 Kingman was a Lex columnist for the Financial Times. He also worked in the Group Chief Executive's office at BP.

Personal life

Kingman is a Trustee of the Royal Opera House and the National Gallery (whose finance and audit committees he chairs), a World Fellow of Yale University and a member of the Trilateral Commission. From 2006-9 he was a member of the Development Board for the £37m renewal of St Martin-in-the-Fields. He chaired the judges for the 2017 Wolfson Economics Prize, a £250,000 prize awarded for the best solution to a public policy problem. He was a member of the steering committee for Lord (Jim) O'Neill's review of anti-microbial resistance^[1], and a member of the Global Advisory Committee for the Centre for Corporate Reputation, Oxford University.

References

1 2 A & C Black (2016). KINGMAN, John Oliver Frank. Who's Who 2016 (online ed.). Oxford University Press. Retrieved 2016-03-02.
↑ Government announcement Archived 2008-12-04 at the Wayback Machine.

Government offices
Preceded by Sir Jonathan Stephens as Managing Director, Public Services and Growth	Managing Director, Public Services and Growth, & Second Permanent Secretary HM Treasury 2007–2008	Succeeded by Tom Scholar
New title	Chief Executive, UK Financial Investments 2008–2009	Succeeded by Robin Budenberg
New title	Second Permanent Secretary, HM Treasury 2012–2016	Incumbent

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[:0-1] 1 2 A & C Black (2016). KINGMAN, John Oliver Frank. Who's Who 2016 (online ed.). Oxford University Press. Retrieved 2016-03-02.

[2] Government announcement Archived 2008-12-04 at the Wayback Machine.