Andrew Ballheimer, Kalpana Desai and Mahnaz Safa join the Board of UK Government Investments as non-executive directors

UK Government Investments Ltd (UKGI), the government’s center of excellence in corporate governance and corporate finance, announces the appointments of Andrew Ballheimer, Kalpana Desai and Mahnaz Safa to the UKGI Board , for a three-year term until September 21, 2025.

Andrew Ballheimer

From 2016 until the end of his term in April 2020, Andrew Ballheimer was the Global Managing Partner of Allen & Overy LLP, where he shaped and executed strategy while driving business performance forward. , including diversity and inclusion initiatives. Andrew has over 35 years of legal experience advising multinational corporations and global financial institutions, including other senior roles at Allen & Overy, as Global Co-Head of Corporate and UK Managing Partner of Corporate . After retiring from A&O (end of 2020), Andrew joined the board of directors of Factor Law Inc. and the M&A Global Advisory Board of AON PLC. He has been a director of Moorfields Eye Charity since 2011, as well as a member of the UK Trade and Business Commission, and is also a senior adviser at Teneo Strategy Limited.

Kalpana Desai

Kalpana Desai is currently a non-executive director of Janus Henderson plc, in addition to being a founding trustee of the future is Bright Charitable Trust. Previously, Kalpana was a member of the Hong Kong Securities and Futures Commission’s Takeovers and Mergers Panel from 2007 to 2014, and served as a non-executive director at Canaccord Genuity Group Inc. from 2015 to 2019. Kalpana has over 30 years of international experience in consulting and investment banking. Until 2013, she was Managing Director of Macquarie Capital Asia, the investment banking division of Macquarie Group Limited. Previously, she was head of the Asia-Pacific mergers and acquisitions group and a managing director from 2001 in the Investment Banking division of Bank of America Merrill Lynch based in Hong Kong. Kalpana qualified as a Chartered Accountant from PricewaterhouseCoopers in London in 1991 and earned a BSc in Economics from the London School of Economics.

Mahnaz Safa

Mahnaz Safa has extensive commercial and regulatory experience in the private and public sectors. With 30 years in finance, Mahnaz has advised boards on restructuring, capital raising, financing, strategy, board succession and crisis management; in sectors such as retail, energy, infrastructure, technology and asset management. Mahnaz has served as a senior executive at UBS, Citi and ANZ. As a leader, Mahnaz has led and transformed large-scale, complex financial enterprises, and at UBS and Citi, she co-chaired their respective Women’s Leadership Executive Committees. Mahnaz currently sits on the board of Jefferies International Limited as a non-executive director and is a board member of Imperial College where she is the Equality, Diversity and Inclusion Champion. She previously served as a senior independent director on the board of Alternative Credit Investments FTSE 250. Mahnaz holds a PhD in Computer Aided Technology from Imperial College.

Treasury Financial Secretary Andrew Griffith said:

I am delighted to welcome Andrew Ballheimer, Kalpana Desai and Mahnaz Safa as new non-executive directors of UK Government Investments.

Their extensive background and experience will be an invaluable asset to the UKGI Board as they help the government drive more growth, jobs and investment across the UK.

I look forward to working with them and the rest of the UKGI Board in the months to come.

UKGI President Vindi Banga said

I am delighted to have three such high caliber appointees join the UKGI Board. Each has a variety of skills and experience in different sectors which will prove invaluable to the Board in ensuring that UKGI delivers on its strategy and objectives.

I look forward to working closely with each of them over the next few years.

These appointments are regulated by the Commissioner for Public Appointments (OCPA) and are made in accordance with the Code of Governance for Public Appointments published by the Cabinet Office. These appointments are made on merit and political activity played no role in the decision-making process. In accordance with the code, it is mandatory that the political activity of appointees (if any declared) be made public. Andrew Ballheimer, Kalpana Desai and Mahnaz Safa declared no political activity.

More information

UKGI is the government’s center of excellence in corporate governance and corporate finance. It provides expert advice and cutting-edge solutions that inform and translate government decisions into effective results in the national interest.

UKGI acts as a shareholder and leads the creation of bodies independent of the UK government; advises on all major UK government corporate finance matters, including financial interventions in corporate structures and corporate finance negotiations; it analyzes and advises on the UK government’s contingent liabilities; and it acquires, manages and executes the sale of all major British State assets.

UKGI is owned by HM Treasury and independently managed with a board of directors made up mainly of independent non-executive directors. UKGI works closely with the private and public sectors, advising and interacting with Ministers, Parliament and Whitehall departments.

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