Exeposé News Issue 614, Page 5 (29 October 2013) and Exeposé News online (3 November 2013)
Exeter Alumnus Sajid Javid received a promotion to Financial Secretary to the Treasury in the Government’s latest ministerial reshuffle.
A former Economics and Politics student at the University, this promotion to the third most senior position in the Treasury follows Javid’s swift advancement through Government roles since his election as MP for the Bromsgrove constituency in 2010.
After completing his degree at Exeter in 1991, Javid launched immediately into a successful banking career. At age 25 he became Vice-President of Chase Manhattan Bank in New York, the youngest individual ever to secure the role. Headhunted by Deutsche Bank in 2000, Javid joined as a Director, rapidly rising through positions until leaving his role as a Senior Managing Director in 2009 to pursue a career in politics.
Considered a global leader in helping to raise investment in developing countries, Javid has partaken in community work throughout adult life, including fundraising for the Disasters Emergency Committee and leading a charity expedition to the summit of Mount Kilimanjaro for Help the Aged.
With political commentators suggesting Javid is now in pole position for a cabinet position in the next reshuffle, this promotion is seen as extremely promising for one of the Conservative Party’s rising stars.
Exeposé asked how his responsibilities have altered since his promotion to Financial Secretary, to which Mr. Javid replied; “First and foremost, I still have the same responsibilities to my constituents that I have upheld since being elected in 2010. That has not changed, and I am only able to work as a minister due to their support. In addition to my parliamentary duties, my role as Financial Secretary means that, alongside the Chancellor and the rest of the Treasury team, I have the opportunity to help restore the credibility of the British economy.”
When asked about the relevance of his degree upon his new occupation, Mr. Javid stated “Studying Economics and Politics allowed me to gain much deeper knowledge of two subjects that fascinate me. This dual focus meant that I could prepare myself for finding employment in the financial world after graduating, while also concentrating on my longer-term goal of involvement in politics.”
Mr Javid outlined his primary priorities and concerns: “My specific responsibilities within the Treasury include banking and financial services reform and regulation (at home and in the EU), financial stability, City competitiveness, bank lending and access to finance, Help to Buy, foreign exchange reserves and debt management policy, and overseeing the Government’s holdings in RBS and Lloyds, amongst others – so there is always more than enough to keep me busy!”
Mr. Javid stated that he was relishing “helping to fix the economy after years of mismanagement under the previous Government. This is no academic exercise – we are working to put the economy back on track, which means doing everything we can to promote growth and job creation, so that hardworking people throughout the UK can provide for themselves and their families and get on in life.”
When asked if he had any particular advice to current students at the university hoping to pursue a career in politics, Mr. Javid replied: “To anyone interested in a career in politics, I would always recommend pursuing this alongside a primary occupation in another field. I think that experience outside politics, by which I mean everything from teaching to banking to the Armed Forces, is hugely important in preparing for public life and only enriches Parliament.”