UK municipal bonds agency strengthens board with key appointments



  • Key appointments bring proven expertise in local government, central government and capital markets
  • Agency converts to PLC

London, January 25, 2015 - The UK Municipal Bonds Agency PLC, the UK’s first municipal bonds agency, today announces four key non-executive appointments to its board as it prepares for launch.

Sir Stephen Houghton, CBE is appointed Senior Independent Director of the board.  Sir Stephen has a wealth of experience in local government as leader of Barnsley Metropolitan Borough for the past 17 years.  He is Chair of Sheffield City Region Combined Authority and was instrumental in securing the ground-breaking devolution deal for the region in October 2015.

Derrick Anderson, CBE has over 25 years’ experience of successful leadership in top local government roles. Derrick was Chief Executive of Lambeth Council from 2006 to 2014 and was previously Chief Executive of the City of Wolverhampton council for 10 years.

Mridul Hegde, CB brings proven success in government and finance, built as Director of Financial Strategy and Director, Public Spending of HM Treasury, and as executive director of strategy at the Financial Reporting Council.

Melanie McLaren has an exceptional track record in risk and regulation, and is currently Executive Director of Codes and Standards of the Financial Reporting Council.  Melanie will lead the Audit, Risk and Compliance committee of the Agency. 


These appointments strengthen the UK Municipal Bonds Agency’s board, complementing existing members in bringing together a strong balance of skills. 

The UK Municipal Bond Agency has also completed the conversion process to a PLC structure.  This is a required step prior to launching bonds to the market.

Sir Merrick Cockell, Chairman of the UK Municipal Bond Agency, said:                                            

“This is an incredibly exciting time for local Government.  We are seeing the creation of a strong and devolved local government which plays an increasingly central role in the UK Government.  The Municipal Bond Agency is an important and pivotal part of this reinvigorated sector.

“These appointments complete a powerful board which has complementary expertise in finance, local and central government.  Along with the conversion to PLC status, this important step ensures that the Agency has the right team and structure to prepare for the Agency’s first bond launch.

“The agency is now well placed to issue bonds to the market, when our local authority clients are ready to do so.”