Former Banker Sajid Javid Named U.K. Culture Minister
LONDON – Former Wall Street banker Sajid Javid is the new British arts, media and culture minister.
Javid, who so far has served as financial secretary to the Treasury, is being brought in to replace Maria Miller, who resigned on Wednesday amid pressure over an expenses claims scandal.
Miller's resignation, reluctantly accepted by U.K. Prime Minister David Cameron, forced the government into a reshuffle at the top.
Cameron announced Javid's elevation to a job, which will see the parliamentarian oversee the government's policies on press regulation following the Leveson inquiry into press standards, which followed the phone-hacking scandal that engulfed Rupert Murdoch's News International.
Javid's post also encompasses everything from the recently introduced tax credit systems for gaming and the high-end television and film breaks, to government backed bidding to host big sporting events and shoring up equality in the creative sectors.
Javid has been a Conservative party member since 1988 and previously worked for Chase Manhattan Bank and Deutsche Bank.
Born in England, Javid is one of five sons and the son of a bus driver.
He studied economics and politics and went on to a career in banking.
Based in New York, Sajid became a vice president of Chase Manhattan Bank before Deutsche Bank in London hired him to help build its business in developing countries.
He left Deutsche Bank as a senior managing director in the summer of 2009 to give something back through politics.