Team Members

Aidan Smith

Executive Director

Aidan joined UKGI in February 2021 to lead the insurance branch in the Contingent Liabilities Group. Aidan is on secondment from the Government Actuary’s Department. Aidan has over 20 years’ experience at GAD providing actuarial advice to the public sector, covering insurance, social security and pension arrangements. From 2015 to 2020 Aidan was GAD’s Head of Technical and Professional, responsible for technical and professional practices across the department.

Robert Mackie

Executive Director

Robert joined UKGI in November 2020 to lead its work supporting HM Treasury’s financial interventions in response to the COVID-19 pandemic.
Prior to UKGI, he spent over a decade in HM Treasury fulfilling a range of roles across financial services, public spending, corporate finance and communications where he built up extensive experience working with Ministers, special advisers and senior officials.

Nancy Zhang

Executive Director

Nancy Zhang joined UKGI in March 2021. Prior to UKGI, Nancy spent 20 years in corporate finance, leading M&A and capital raising transactions involving both private and publicly listed companies. Immediately before joining UKGI, Nancy advised BEIS on the sale of British Steel out of compulsory liquidation.

Nancy started her career at UBS Investment Bank before working in the Corporate Advisory Group at Canaccord Genuity and was most recently a Director in the Corporate Finance team at Ernst & Young. Nancy has extensive experience in managing sell-side transactions, raising capital, and interacting with private equity companies.

Sukhi Johal

Executive Director

Sukhi Johal joined UKGI in early 2021 from RSM UK, the provider of audit, tax and consulting services, where she was a Corporate Finance Partner. She has over 20 years’ experience in Corporate Finance, split between Advisory and Corporate & Investment Banking and worked on complex transactions in the UK and internationally.

At UKGI she leads work on providing specialist corporate finance advice and commercial negotiation support across government departments where a particular M&A transaction or corporate event is deemed of national or economic importance to government. In the last year the team has undertaken a key advisory role in some of the most high-profile national security transactions facing government, across aerospace, space, telecoms and digital sectors.

In June 2023 Sukhi was appointed as the government’s representative on the board of National Highways.

Alexander Richarz

Executive Director

Alexander joined UKGI in June 2021 to lead the credit branch in Contingent Liabilities Group. Prior to that, he had an over twenty-five-year international career in commercial and investment banking at Deutsche Bank, CIBC and Credit Suisse. He has significant experience in corporate and leveraged finance gained in front office origination, loan portfolio management, and credit risk management. Prior to joining UKGI he was heading the corporates team in credit risk management at Credit Suisse. He holds a master’s degree in economics.

Siobhan Duffy


Siobhan Duffy joined UKGI in 2021 to lead the Contingent Liability Central Capability (CLCC), an analytical and advisory unit set up to strengthen contingent liability expertise across government.

Prior to joining UKGI, Siobhan spent over 25 years working in debt capital markets structuring and advising European corporates on debt issuance. During her career, she has held several leadership roles, including global head of private placement at NatWest Markets/ RBS and, prior to that, head of private debt at ABN Amro. Most recently, she established a debt distribution platform for London Bridge Capital, an independent corporate finance firm. 

Outside of UKGI, Siobhan is involved with St Mungo’s supporting a London based Outreach team working with street sleepers.

Vindi Banga

Non-Executive Chairman

Vindi was appointed Chair of UK Government Investments in September 2021. He is also Chair of the Transaction Committee and Nominations Committee.

Vindi is an experienced Chair of public and private companies with an extensive Board career having been Senior Independent Director at M&S plc; GlaxoSmithKline; Chairman and CEO of Hindustan Unilever Ltd and Chair of privately owned companies.

He has 33 years of executive experience at Unilever, where his last role was President of the Global Foods, Home and Personal Care businesses, including serving on the Unilever Executive Board.

Current additional appointments:

  • Senior Independent Director at Haleon plc
  • Non-Executive Director of The Economist Group
  • Partner of CD&R, a global private equity firm
  • Chair of Marie Curie

Katy Baldwin

Executive Director

Katy joined UKGI in July 2021, on secondment from the Civil Service. She currently sits on the Board of HM Land Registry.

Prior to joining UKGI, Katy worked in  public spending in several Government departments, including several stints in local government finance at the Department for Levelling Up, Housing and Communities, and on housing spending and policy at HM Treasury. Katy started her Civil Service career at the National Archives.

Jonathan Ingram

Executive Director

Jonathan joined UKGI in early 2018 and is part of the Special Situations team which focuses on sectors and corporates where there is a risk of economic shock impact to major employment or assets of national interest and where there is a strategic case for Government intervention.

Jonathan has over 20 years’ experience of providing restructuring and insolvency advice to key stakeholders in complex distressed situations. A lawyer by background, Jonathan has worked in both national and international law firms including Addleshaw Goddard and Mayer Brown and latterly as a Partner in the City with Maclay Murray & Spens (now Dentons).

In addition to working in the Special Situations team Jonathan has undertaken a number of Governance reviews of major Government Arms Length Bodies, led a review of UKGI’s approach to its Shareholder role and led UKGI’s Risk Function.

Julie Colgan

Executive Director

Julie is a chartered accountant and is JIEB qualified, with over 25 years’ experience in Restructuring, Insolvency and Creditor Advisory work.  Having started her career at Coopers and Lybrand, Julie spent 12 years working in practice (at PwC and Kroll) before joining Barclays as a Director in the Restructuring Team. During this time, Julie worked on a variety of situations including multi lender listed transactions. 

Julie joined UKGI in July 2019 as part of the Special Situations Group, which advises government departments where there is a risk of economic shock impact to major employment or assets of national interest. Julie has also worked across other projects in UKGI including being part of the management team supporting HMT’s financial interventions in response to major situations such as the COVID-19 pandemic, the effects of the Ukraine war and market volatility.

Julie currently sits on the Board of Sheffield Forgemasters, a steel forge and precision manufacturer acquired by MoD in 2021.