Liz Truss announces four new non-executive board members

1 Dec 2020 11:57 PM

The new non-executive board members bring a wealth of experience to the Department to support the delivery of its ambitious trade agenda.

Four DIT non-executive board members with extensive experience in investment, business and international affairs, were yesterday announced by International Trade Secretary Liz Truss.

The new members have been appointed for at least 3 years and will provide independent advice, support and scrutiny on the department’s work, to support the Government’s ambitious trade policy agenda.

They will help the department execute its key priorities including striking free trade agreements in markets around the world, operating our own trading system after the transition period, boosting exports and investment across the UK, and championing free trade and shaping global trading rules.

The new board members are:

• Andrew Hood, Founding partner at Oxford Research & Analysis, announced as lead non-executive board member
• Dominic Johnson, Founding Partner and Chief Executive at Somerset Capital Management, announced as chair of the Audit and Risk Assurance Committee
• Dr Dambisa Moyo, Economist and Author, will become a new non-executive board member
• Douglas Carswell, former Member of Parliament for Clacton, will become a new non-executive board member

Founding partner at Oxford Research & Analysis, Andrew Hood, will take on the role of Lead non-executive board member, after facing strong competition from a high number of candidates.

He will be joined by Dominic Johnson, who will replace Julie Currie as Chair of the Audit and Risk Assurance Committee, and by Dr Dambisa Moyo and Douglas Carswell, who will sit on the DIT Department Board.

Sir Stephen O’Brien, and Noel Harwerth will continue in their roles as Non-Executive Board Members.

International Trade Secretary Liz Truss yesterday said:

These appointments bring vast experience and expertise to the department at a critical time for the UK as a trading nation.

They will help execute our strategic priorities, in particular driving forward our trade deal negotiations programme, our export and investment campaigns, and our work on reforming and reshaping global trade rules.

All of them are high quality appointments who believe fiercely in rules-based free trade. They will play a big role in re-establishing the UK as a major force in global trade, and will help take our trade agenda to the next level in 2021 and beyond.

The non-executive board members were appointed following an open and fair selection process. There are now six non-executive board members.

Appointee biographies

Andrew Hood – Lead NEBM

• Andrew Hood is a founding partner at Oxford Research & Analysis with 20 years’ experience in the private sector working in or on behalf of companies involved with banking, insurance, asset management, broadcasting, AI, social media and cement. Andrew is a former managing partner of Brunswick Group, which is a leading international strategic advisory firm. He has a background in foreign affairs and defence and has worked in North America, the Middle East and Asia.

Dominic Johnson – NEBM and ARAC Chair

• Dominic is Founding Partner and Chief Executive of Somerset Capital Management a $7bn Global Emerging markets specialist investment company. Prior to starting Somerset Capital in 2007, he helped to build Lloyd George Management from $1.5bn to $16bn under management between 2001 and 2007. He has spent the last 25 years in entrepreneurial, international finance, starting his career at Robert Fleming in 1995, before moving to Jardine Fleming, Hong Kong, in 1998, setting up various dotcom business in the early 2000s and ultimately moving into asset management in 2001. He was vice-chairman of the Conservative Party between 2016 and 2019.

Dr Dambisa Moyo

• Dr. Dambisa Moyo is an acclaimed global economist and author.
• Dr Moyo has focused on analysing the macro economy and international affairs to help drive investment decisions, capital allocation and mitigate risk. Her work examines the interplay of international business and the global economy, whilst highlighting the key opportunities for investment; capitalizing on her ability to translate trends in markets, technology, policy, regulatory matters and economics into their likely impact on national economies and business.
• Dr Moyo serves on the boards of the 3M Company, Chevron and Conde Nast. In addition, she serves on the Investment Committee of Oxford University’s endowment. She was named by TIME Magazine as one of the “100 Most Influential People in the World,” and is the author of four bestselling books.

Douglas Carswell

• Douglas Carswell served as Member of Parliament for Clacton from 2005 to 2017, during which time he was a member of the Public Accounts Committee.
• He is a visiting fellow, at the John Locke Institute, and Director of The Good Governance Project, which undertakes research into the process of public administration, and publishes proposals for meaningful reform. He is on the steering group of the Commission for Smart Government, an independent initiative to consider how to make public administrative more effective.
• He was formerly a founding director of Vote Leave, and prior to politics worked for one of the world’s leading investment management companies.

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