Procserve role for UKFI’s chairman Sir David Cooksey
Sir David Cooksey, chairman of the Government’s UK Financial Investments (UKFI), has joined the board of a company which supplies HM Treasury and other government departments with procurement software.
UKFI is the body which manages the public stakes in banks, including Lloyds Banking Group and Royal Bank of Scotland, in which HM Treasury is the sole shareholder.
The Sunday Telegraph understands that Sir David joined Procserve as a non-executive director earlier this month.
Procserve is owned by PA Consulting and specialises in e-procurement for bodies such as the Bank of England, Department for Work and Pensions and Government Procurement. The company’s products are aimed at bringing buyers and sellers together in one place, helping to reduce costs.
Sources close to Sir David have played down any suggestion of a conflict of interest, pointing out that he will not be getting a salary in his new role. A spokesman for UKFI said: “Sir David’s appointment to the board of Procserve was cleared in advance for the board of UKFI.” A Procserve spokesman confirmed Sir David’s appointment.