The press release issued by HM Treasury on 13 April 2023.
The Economic Secretary to the Treasury, Andrew Griffith MP, has appointed Martin Egan as a Non-Executive Director of the Debt Management Office (DMO) Advisory Board.
Martin has extensive experience in financial markets, including as former Global Co-Head of Primary and Secondary Credit at BNP Paribas.
In this role Martin will support the DMO’s Chief Executive and senior team and bring considerable experience, skills and judgement to the full array of Advisory Board issues.
Martin will be appointed for a three-year term. He will replace Paul Richards whose term on the DMO Advisory Board has come to an end.
Economic Secretary to the Treasury, Andrew Griffith said:
“I am very pleased to announce the appointment of Martin Egan. He will bring a vast amount of knowledge, skill and experience to the Advisory Board, helping the DMO to continue delivering its critical role.
“I would also like to thank Paul Richards for his excellent contribution to the work of the DMO.”
Sir Robert Stheeman, Chief Executive of the DMO, said:
“I am delighted that Martin Egan has been appointed to join our Advisory Board as a Non-Executive Director.
“Martin’s extensive knowledge and experience of fixed income markets means that he will be well placed to support the DMO in continuing to deliver its critical objectives, including meeting the government’s financing requirements, to the highest standards.”
Martin Egan said:
“It is an immense privilege to act in an Advisory Role for the UK DMO in an incredibly exciting but also challenging environment. The UK DMO is recognised globally for its expertise and best in class standards and I hope my experience can assist the evolution of the DMO as we embrace the financial markets of the future.”
About Martin Egan
Martin Egan has 37 years of experience in financial markets. Most of his career was spent at BNP Paribas in various roles including Managing Director Global Co-Head Primary and Secondary Credit, Vice Chairman of the Global Markets Client Board, and Chair of BNPP UK Ltd. He was also Chair of the Diversity and Inclusion Network at BNPP UK. Earlier in his career he held roles at JP Morgan Ltd., UBS Investment Bank and Credit Suisse First Boston.
Martin was also the Chair of the Board of the International Capital Market Association from May 2017 to May 2018, and a member of the Board for another 5 years before that.
Martin confirmed he has not engaged in any political activity in the last five years.
About the appointment process
The DMO is an executive agency of HM Treasury which is responsible for debt and cash management for the UK Government, lending to local authorities and managing certain public sector funds.
Martin Egan has been appointed following an open recruitment process run by HM Treasury. A panel comprising of Dame Sue Owen (Non-Executive Chair, DMO Advisory Board), Ruth Curtice (Director of Fiscal, HM Treasury) and Kevin Parry OBE (independent panel member) interviewed a number of candidates and made recommendations to the Economic Secretary to the Treasury, which informed his decision.