Mahnaz Safa and Andrew Ballheimer reappointed on UK Government Investments Board
Source: gov.uk (2025-07-28)

His Majesty’s Treasury (HMT) has today (28 July) announced the reappointment of Mahnaz Safa and Andrew Ballheimer as Non-Executive Directors of UK Government Investments (UKGI).

Mahnaz and Andrew will remain as UKGI Board Members for a further three years, commencing in September 2025.

UKGI is the government’s centre of expertise in corporate governance and corporate finance. Mahnaz was appointed to the UKGI Board in September 2022 and holds over 30 years of experience in Finance, including as a Senior Executive at major financial services firms UBS, Citi and ANZ. She has also advised Boards on restructuring, capital raising, financing, strategy, and crisis management; in sectors including energy, infrastructure, technology and asset management.

Andrew was also appointed to the UKGI Board in September 2022 and has over 35 years of legal experience advising multinational corporations and global financial institutions, including at Allen & Overy LLP where he was Global Managing Partner and Global Co-Head of Corporate.

Emma Reynolds, Economic Secretary to the Treasury said:

Mahnaz Safa and Andrew Ballheimer have significant executive experience which will help UKGI continue its important work supporting the government’s missions, particularly on growth. UKGI provides invaluable advice and support to the government on complex corporate governance and corporate finance matters.

Vindi Banga, Chair of UKGI, said:

Andrew and Mahnaz have made significant contributions across the organisation, and I am delighted that they have been re-appointed to the UKGI Board for a further three-year term. I look forward to continuing to work with them, alongside the rest of the Board, as we support UKGI in delivering its strategy and objectives.

This reappointment is regulated by the Commissioner for Public appointments (OCPA) and is made in accordance with the Governance Code on Public Appointments published by the Cabinet Office.

This reappointment is made on merit and political activity played no part in the decision process. In accordance with the code, there is a requirement for appointees’ political activity (if any declared) to be made public. Neither Mahnaz Safa nor Andrew Ballheimer had any political activity to declare.

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.