John Flint to step down as National Wealth Fund CEO in the summer
Source: gov.uk (2025-02-17)

John Flint to step down from his role as CEO of the National Wealth Fund (NWF) in the summer, after four years of public service.

- Flint has successfully led the NWF through its recent transformation, building on his leadership of the UK Infrastructure Bank (UKIB).
- Since launch the NWF has unlocked £1.6 billion of investment in support of the government’s growth and clean energy missions, as part of the Plan for Change.
- The recruitment process for his successor will start shortly.
John Flint is to step down from the role of the CEO of the National Wealth Fund (NWF) in the summer after seeing through the transition from the UK Infrastructure Bank (UKIB).

Appointed as CEO of UKIB in 2021, Flint led the organisation from a start-up to an established feature of the UK investment and policy landscape.

In October 2024, UKIB was transformed into the NWF with Flint taking on the role of CEO of the new organisation. Since then, Flint has driven forward the transformation of the institution, with its broader mandate to support the government’s growth and clean energy missions through its partnership with the private sector and local government.

Since its launch the NWF has invested in 11 deals, securing 8,600 jobs and unlocking £1.6 billion in investment spread right across the industries that turbocharge growth in our economy as government’s number one mission - from clean energy to digital infrastructure.

Backed by capitalisation of £27.8 billion, the NWF has been established to mobilise over £70 billion of business investment and help kickstart economic growth as part of the government’s Plan for Change.

The NWF has also recently committed to trialling strategic partnerships with local government, starting in Greater Manchester, West Yorkshire, West Midlands, and the Glasgow City Region. These partnerships will provide enhanced, hands-on support with tailored commercial and financial advice to help regions develop and secure long-term investment opportunities.

Chancellor of the Exchequer Rachel Reeves said:

John Flint has been an outstanding CEO of UKIB and the NWF. He will leave behind a considerable legacy – having led the scale-up of UKIB and its transformation into the NWF. I would like to thank him and wish him well.

His successor will be required to build on his work by backing businesses and our local leaders to invest in the industries of the future. In doing so we can get Britain building the infrastructure we need to grow as part of our Plan for Change.

John Flint said:

It has been a huge privilege to lead UKIB and NWF, working with some of the brightest and best of the public and private sectors. After successfully leading the transformation of UKIB into the NWF, this summer will be the right moment to hand over to a successor and look for a new challenge.

I will do so feeling confident that the NWF is well positioned to mobilise billions of pounds of investment and play a leading role in supporting the government’s ambitions on growth and clean energy. I will follow its future activities with interest.

A recruitment process to identify Flint’s replacement will launch shortly. Flint will remain as CEO until the summer to support an orderly transition to a new CEO and to ensure that momentum is maintained.

John Flint biography

As Chief Executive Officer of the NWF, Flint chaired the Fund’s Executive Committee, is a member of the Board of Directors, and chairs the Investment Committee, which makes decisions on investments.

Previously Flint was Group Chief Executive of HSBC. During his 30-year career with HSBC, Flint built a range of skills in wholesale banking, retail banking, and Treasury and risk management. He represented HSBC in nine countries, spending much of his career in Asia. He progressed through the roles of Group Treasurer, Deputy Head of Global Markets, Chief Executive of HSBC Asset Management, and Chief Executive of Retail Banking and Wealth Management, before being appointed Group Chief Executive.