Our governance
Source: gov.uk (2025-10-22)

Information on the HM Treasury board and its sub-committees.

The role of the board

The purpose of the HM Treasury board is to advise and support the department’s ministers, and operationally turn policy into reality.

The board:
- monitors and improves the Treasury’s performance; makes sure opportunities and risks are recognised in both the short and long term
- ensures Treasury staff and resources are correctly allocated
- protects and enhances the Treasury’s reputation as a world-class finance ministry
Membership

The Executive Management Board (EMB) members (correct as of 20 October 2025):
- Permanent Secretary – James Bowler (https://www.gov.uk/government/people/james-bowler)
- Second Permanent Secretary – Beth Russell (https://www.gov.uk/government/people/beth-russell), Sam Beckett (https://www.gov.uk/government/people/sam-beckett) and Jim O’Neill (https://www.gov.uk/government/people/jim-oneil)
- Director General Financial Services – Gwyneth Nurse (https://www.gov.uk/government/people/gwyneth-nurse)
- Director General International and EU – Lindsey Whyte (https://www.gov.uk/government/people/lindsey-whyte)
- Director General Tax and Welfare – Will MacFarlane (https://www.gov.uk/government/people/william-macfarlane)
- Director General Public Spending – Conrad Smewing (https://www.gov.uk/government/people/conrad-smewing)
- Director General Productivity and Growth – Jessica Glover (https://www.gov.uk/government/people/jessica-glover)
- Finance Director - Sarah Whitehead
- People & Operations Director – Rebecca Coady (https://www.gov.uk/government/people/rebecca-coady)
- Director Strategy, Planning and Budget – Dharmesh Nayee
- Director Treasury Legal advisers – Simon Man
Non-Executive Board Members
- Sir Charlie Mayfield – Lead Non-Executive Board Member
- Edward Braham
- Jane Hanson CBE
- Edward Twiddy
- Jenny Scott
- Dex Hunter-Torricke
Sub-committees to the Executive Management Board

The 2 sub-committees of EMB are the Operating Committee and the People Committee

Operating Committee (OpCo)

The Operating Committee (OpCo) takes operational decisions on the department’s financial, administrative and risk management issues and to provide greater oversight of operational issues materially affecting the level of risk arising in the broader Treasury Group. It also acts in an advisory capacity in relation to finance and management information, including headcount. The purpose of the Committee is to ensure that the Treasury has in place and operates effectively, appropriate, and robust procedures and business processes in support of the department’s overall strategy and business needs.

People Committee (PC)

The People Committee (PC) supports and challenge the department’s performance on people issues and ensure delivery of the People Strategy which incorporates the Diversity, Inclusion and Belonging Action Plan (DIBAP).

Audit and Risk Committee (ARC) members:

The Audit and Risk Committee provides advice to the Treasury Board, the Permanent Secretary and the Treasury’s Additional Accounting Officers to discharge effectively their duties and responsibilities relating to managing risk, internal control and governance and considers the integrity of the financial statements in relation to the Treasury Group; Exchange Equalisation Account; National Loans Fund; Consolidated Fund; Contingencies Fund; and the Whole of Government Accounts (WGA).

Audit and Risk Committee (ARC) members (correct as of 20 October 2025):

Members of ARC are appointed by the Permanent Secretary. The membership of the committee as of October 2025 is:
- Edward Braham
- Jane Hanson CBE
- Edward Twiddy
Annual Report and Accounts

For more information about HM Treasury’s governance, see the Annual Report and Accounts 2024-2025. (https://www.gov.uk/government/publications/hm-treasury-annual-report-and-accounts-2024-to-2025)