What we do
UK Financial Investments (UKFI) was created in November 2008 as part of the UK’s response to the financial crisis.
UKFI is responsible for managing the Government’s shareholdings in The Royal Bank of Scotland Group plc and Lloyds Banking Group plc, collectively the “Market Investments”. UKFI is also responsible for managing the Government’s 100 per cent shareholdings in Northern Rock plc and UK Asset Resolution Ltd (which was formed during 2010 to integrate the activities of Northern Rock (Asset Management) plc and Bradford & Bingley plc), collectively the “Wholly-Owned companies”.
Our overarching objective is to manage these shareholdings commercially to create and protect value for the taxpayer as shareholder and to devise and execute a strategy for realising value for the Government’s investments in an orderly and active way over time within the context of protecting and creating value for the taxpayer as shareholder and where applicable, as provider of financial support, paying due regard to the maintenance of financial stability and acting in a way that promotes competition.
More detail on UKFI’s role, remit and ownership approach is set out in our Framework Document and Investment Mandate with HM Treasury and our Framework Documents with our Wholly-Owned companies. These can be found on our website www.ukfi.co.uk and on the Wholly-Owned companies’ websites.
The UK Stewardship Code
In July 2010 the Financial Reporting Council published the UK Stewardship Code for Institutional Investors. The Code aims to enhance the quality of engagement between institutional investors and companies to help improve long-term returns to shareholders and the efficient exercise of governance responsibilities by setting out good practice on engagement with investee companies. UKFI is a committed signatory to the UK Stewardship Code and the attached document sets out how UKFI complies with the principles of the Code.
For any questions or queries regarding UKFI’s approach to the UK Stewardship Code please email enquiries@ukfi.co.uk.
Click here for the UK Stewardship Code.
Click here for UKFI’s sustainability policy.
UKFI Management Changes
UKFI today announces that Sir David Cooksey is retiring as Chairman. Robin Budenberg will become Chairman in his place and Jim O'Neil (currently responsible for UKFI's investments in Lloyds and RBS) will become Chief Executive. download [18,8 KB]
UKFI confirms completion of Northern Rock sale to Virgin Money
UK Financial Investments Ltd (UKFI) today confirms the completion of the sale of 100% of the share capital of Northern Rock plc (Northern Rock) by HM Treasury to Virgin Money Holdings (UK) Limited (Virgin Money) download [15,5 KB]