Green Investment Bank advisors meet for first time

The group, chaired by Sir Adrian Montague, will advise ministers on the establishment of the Bank and its strategic direction. Group members were announced last week by business secretary Vince Cable (pictured). They have a range of experience and capability in green economics, sustainable and responsible financial services and development banking. Business secretary Vince Cable said: "I am very pleased that we have secured such an excellent mix of people. The group has wide-ranging credentials relating to energy and other environmentally important industries, hands-on financing experience and a deep understanding of infrastructure projects. We also have people with a background of starting up new credit institutions and managing a development bank." Advisory group chairman Sir Adrian Montague added: "I have worked closely with Vince Cable to select the nine members to join me on the Green Investment Bank advisory board. They all bring a wealth of experience with them and I can't wait to start work with the group during this critical and exciting time in the development of the Green Investment Bank." Advisory group chairman Sir Adrian Montague was appointed in May. Former chairman of British Energy, Montague is non-exec chairman of 3i, Anglian Water Group, Hurricane Exploration and CellMark Investments AB, a supplier of biomass for renewable regeneration technologies. The other members are: * Simon Brooks, UK vice president, European Investment Bank * John Burnham, former MD and global head of infrastructure, Citigroup. * David Gregson, chairman of Phoenix Equity Partners * Melville Haggard, MD at Quartermain Advisers and member of the investment committee of the London Waste and Recycling Board * Dima Rifai, managing partner at Paradigm Change Capital Partners * Penny Shepherd, CEO at the UK Sustainable Investment and Finance Association * James Smith, former chairman of Shell UK and a board member for Carbon Trust * Lord Stern of Brentford, author of the eponymous review on climate change and professor of economics * Bob Wigley, chairman of Yell Group and former chairman of Merrill Lynch EMEA. Wigley also chaired the Green Investment Bank Commission which reported in July 2010. The government has committed to fund the Green Investment Bank with £3 billion for the period to 2015.