Yahoo Finance UBS hires former top civil servant Lord Hill to advise clients on Brexit
Swiss banking giant UBS has hired Britain’s former representative to the European Union, Jonathan Hill, to advise its clients on Brexit.
The Conservative politician - who was also leader of the House of Lords in David Cameron’s cabinet - has taken up the role of senior adviser to corporate clients at UBS.
He is the latest political figure to be lured into a top City role, after ex-UK chancellor George Osborne joined Blackrock and former European Commission president José Manuel Barroso moved to Goldman Sachs.
Lord Hill was a European commissioner for financial stability for two years until July 2016, when he resigned following the Brexit vote.
Since then he has helped set up Prosperity UK, a forum for business people to debate Britain’s future outside the EU.
UBS said its new hire would allow it to offer customers “richer advice in relation to Brexit and the wider political and economic environment”.
The bank added: “His experience in both Brussels and the UK means he is able to speak with authority on the challenges and opportunities for business arising from recent political and economic developments in Europe.”
The 57-year-old civil servant built up a reputation as a defender and advocate of UK financial services when he was in Brussels.
On resigning his post as commissioner, he said: “I don’t believe it is right that I should carry on as the British commissioner as though nothing had happened.”
A week before the Brexit referendum he told the Telegraph he believed getting a good deal after a vote to leave the EU was "in the realm of complete fantasy".
