Charles Donald to step down as UK Government Investments CEO next year
Source: gov.uk (2025-07-24)

Charles Donald stepping down after successfully leading UKGI as its CEO since early 2020.

- UKGI’s corporate governance and corporate finance advice and support has been significantly expanded since his appointment, particularly through the setting up of the new Financial Instruments and Transactions Advisory Group.
- The recruitment process for his successor will be launched shortly.
Charles Donald has announced today (24 July) that he will step down from his role as CEO of UK Government Investments (UKGI) in early 2026 after over five years of leading the company.

UKGI is the government’s centre for expertise in corporate governance and corporate finance, providing expert advice and solutions to the government, including financial interventions into corporate structures and corporate finance negotiations.

As CEO, Charles oversaw a significant expansion of UKGI’s activities during the pandemic including the establishment of the Covid Interventions Resolution Group which supported the Bank of England’s £85 billion Covid Corporate Financing Facility.

The addition of AWE, BBC Commercial, Eutelsat, Octric, the National Wealth Fund, NESO, Network Rail, Reclaim Fund Limited, Sheffield Forgemasters and Sizewell C to UKGI’s governance portfolio also happened during Charles’ time as CEO.

He was a key player in securing the Treasury’s full exit as a shareholder in NatWest Group in May 2025.

Economic Secretary to the Treasury, Emma Reynolds, said:

Charles has been an excellent CEO of UKGI, having led an impressive expansion of its important work to provide advice and support to the Government on complex corporate governance and corporate finance matters.

I wish him well and look forward to UKGI’s continued work to support our number one mission – delivering economic growth.

Charles Donald, outgoing CEO of UKGI, said

It has been an extraordinary privilege to be the CEO of UKGI since early 2020.

My objective was to continue building the expertise in corporate finance and corporate governance that UKGI brings to government as well as to ensure that UKGI continued to be an effective bridge between Whitehall and the City.

I am proud to have had the opportunity to grow and further professionalise an organisation of such skilled and dedicated experts who support departments as government’s in-house corporate finance and corporate governance advisory function.

Vindi Banga, Chair of UKGI, said:

I am profoundly grateful to Charles for his leadership and commitment to UKGI over the past seven years.

It has been a privilege to work with Charles as he has led UKGI in support of some of government’s toughest challenges, with his characteristically calm leadership style, wisdom, and immense professional expertise.

The recruitment process for Charles Donald’s successor will be launched shortly.

The Board, led by Vindi Banga, is leading the process and as part of a well-ordered succession, Charles will support the transition to the new CEO following their appointment.

Further information
- UKGI is the government’s centre of expertise in corporate governance and corporate finance. It provides expert advice and leading solutions that inform and translate government’s decisions into effective outcomes in the national interest.
- UKGI acts as shareholder representative for, and leads the establishment of, UK government most complex and commercial arm’s length bodies on behalf of sponsor departments. It advises on major UK government corporate finance matters, including financial interventions into corporate structures and corporate finance negotiations; it analyses and advises on the UK government’s contingent liabilities and advises on major UK government corporate finance matters, including financial interventions into corporate structures and corporate finance negotiations.
- UKGI is owned by HM Treasury and independently managed with a Board comprised predominantly of independent non-executive directors. UKGI works closely with both the private and public sectors, advising and interacting with ministers, Parliament, and Whitehall departments.