New boss for treasury unit

LONDON: UK Financial Investments, the treasury unit that holds Britain’s stakes in banks, has picked senior Credit Suisse banker James Leigh-Pemberton as its new boss, handing him the task of selling taxpayers’ stakes in Lloyds and Royal Bank of Scotland.

Leigh-Pemberton, UK chief executive of Credit Suisse, was one of the main advisers to the government when it pumped billions of pounds into banks in 2008 and took big stakes in the two banks.