UBS has hired Bank of England (BoE) adviser Huw van Steenis as the chair of its new sustainable finance committee and head of investor relations.

The Swiss bank said: “UBS is further sharpening its focus on sustainable finance, recognising increasing client demand and the leading position it already has in the field.”

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The bank’s sustainable finance committee will include senior leaders involved in its sustainability initiatives. The work of the group is to ensure that the bank continues innovation in the sustainable finance space.

Steenis will assume his new role on 2 September 2019.

At UBS, he will serve as a group managing director and report to group CEO Sergio Ermotti and group CFO Kirt Gardner.

Previously, Steenis served as senior adviser to BoE governor Mark Carney and led a review of the UK’s financial system.

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The review resulted in BoE carrying out a climate change stress test for financial institutions, developing a regulatory technology and data strategy, as well as updating the payments system to meet the requirements of the digital era.

Moreover, Steenis will spearhead investor relations, serving as a senior adviser on topics impacting the future of the industry.

Meanwhile, the acting investor relations head Martin Osinga will now serve as the deputy head of investor relations.

Steenis previously worked as the global head of strategy at Schroders. He also had a 14-year stint at Morgan Stanley.