John Oliver Frank Kingman

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Sir John Oliver Frank Kingman KCB (born 24 April 1969) is Chairman of Legal and General plc. He is also Chair of UK Research and Innovation (UKRI), a body being established by the Government to oversee the strategic direction of UK science and innovation funding, with a budget of over £6bn a year. He is a former Second Permanent Treasury to HM Treasury. He is the son of Sir John Frank Charles Kingman.


At the Treasury, Kingman was closely involved with the response to the financial crisis. In 2007-8 he led the process leading to nationalisation of Northern Rock, and in October 2008 he led negotiations with RBS, Lloyds Banking Group and HBOS on their £37bn recapitalisation. In November 2008 he was appointed as the first chief executive of UK Financial Investments, the Government company created to manage the bank holdings acquired in the crisis.[1][2]

More recently at the Treasury Kingman oversaw: raising £16bn through sale of most of the Government shares in Lloyds Banking Group; successful first sale of Government-owned shares in RBS; and the largest-ever UK privatisation (sale of £13bn of UKAR mortgage assets to Cerberus). He oversaw significant leadership changes in the UK financial regulators (replacement of Martin Wheatley with Andrew Bailey as CEO of FCA, and appointment of Sam Woods as CEO of PRA). Kingman led on liberalisation of the annuities market and creation of the National Infrastructure Commission; he negotiated the devolution deal with Greater Manchester, resulting in introduction of an elected Mayor. As acting Permanent Secretary to HM Treasury in June 2016, Kingman had to handle the immediate market fallout from the UK's EU referendum.

From 2010-2012 Kingman worked at Rothschild, the investment bank, where he was Global co-head of the Financial Institutions Group.

Previous roles in the Treasury included: Press Secretary to the Chancellor of the Exchequer; Director of the Enterprise and Growth Unit; and Managing Director responsible for public spending control. In 2004 Kingman led a cross-Government 10-year review of UK science funding. From 2003-6 he was a main board Director of the European Investment Bank.

From 1995-97 Kingman was a Lex columnist for the Financial Times. He also worked in the Group Chief Executive's office at BP.

Personal life[edit]

Kingman is a Trustee of the Royal Opera House and the National Gallery, a World Fellow of Yale University, a member of the Prime Minister's Council for Science and Technology, a member of the Trilateral Commission and a member of the Global Advisory Board of the Centre for Corporate Reputation, Oxford University. From 2006-9 he was a member of the Development Board for the £37m renewal of St Martin-in-the-Fields. He is chairing the judges for the 2017 Wolfson Economics Prize, a £250,000 prize awarded for the best solution to a public policy problem. He was a member of the steering committee for Lord Jim O'Neill's review of anti-microbial resistance.[1]


  1. ^ a b A & C Black (2016). KINGMAN, John Oliver Frank. Who's Who 2016 (online ed.). Oxford University Press. Retrieved 2016-03-02. 
  2. ^ Government announcement Archived 2008-12-04 at the Wayback Machine.
Government offices
Preceded by
Sir Jonathan Stephens
as Managing Director,
Public Services and Growth
Managing Director,
Public Services and Growth, &
Second Permanent Secretary
HM Treasury

Succeeded by
Tom Scholar
New title Chief Executive,
UK Financial Investments

Succeeded by
Robin Budenberg
New title Second Permanent Secretary,
HM Treasury