Renowned economist and coiner of the acronym 'BRICs' Jim O'Neill is to become a Treasury minister in the new government.
The former chairman of Goldman Sachs Asset Management will be given a peerage, becoming Lord O'Neill, to complement his unpaid role of commercial secretary to the Treasury. The Treasury said his responsibilities include delivery of infrastructure projects across the public sector and facilitating private sector investment into UK infrastructure. He will work on improving regulation and competition policy. Related reading: Six wealth managers' post-election analysis O'Neill (pictured) is well-known for the creation of the "BRICs" acronym in 2001, used to group together the fo...
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