Economy
Green Investment Bank hires Standard Chartered executive as chief risk officer
The Green Investment Bank (GIB) has appointed Peter Knott as its chief risk officer. The former Deloitte & Touche executive was Chief Operating Officer of Risk at Standard Chartered, the banking giant recently fined $330m by US regulators over failing to comply with Iranian sanctions.
Knott will oversee the GIB’s risk management framework, reporting to chief executive Shaun Kingsbury, formerly of private equity firm Hudson Clean Energy Partners.
Kingsbury said, “Peter brings with him a wealth of experience from across the globe and his expertise and skills will be crucial as we manage the growth of the bank over the coming months and years.”
Vince Cable opened the GIB last month. At the time he announced that an £8m energy-from-waste project and a £5m energy saving scheme would be financed by the GIB, which has £3 billion of government funding to boost the economy by investing in areas such as offshore wind and waste energy.