GIB's deputy chairman to step down
The Green Investment Bank's (GIB) deputy chairman, Adrian Montague, will be standing down in April this year, the Government has announced.
Reasons behind Montague's departure have not been made clear but in a statement the Government claimed that "Sir Adrian has decided that the time will be right for him to step aside in the spring".
Montague played a key role in the creation of the Green Investment Bank, chairing Vince Cable's Advisory Group and agreeing to take up the position of deputy chairman to support the chairman and senior management during the establishment of the new institution.
Business Secretary Vince Cable said: "Sir Adrian has been a key architect of the Green Investment Bank, both as a committed Chair of the Advisory Group and active Deputy Chair of UK Green Investment Bank plc.
"His advice has been invaluable and he has been a major force in getting the UK GIB up and running," said Cable.
The UK Green Invetsment Bank's chairman, Lord Robert Smith of Kelvin, added: "It has been really important to me to have had Adrian alongside since I was appointed in May 2012. Without his nurturing of the idea of the Green Investment Bank we would not have the institution of substance that we have today".
The Bank launched in November last year, making £3bn of government money available for investment in the green economy.
Cable said the bank would "position the UK in the forefront of the drive to develop clean energy."