Stephen Barclay, a former head of anti money laundering operations at Barclays retail bank and a previous member of the public accounts committee (PAC), has been named as economic secretary to the Treasury
Barclay, who represents north east Cambridgeshire, entered parliament in 2010. He was a member of PAC from 2010 to 2014, and described himself, as focusing on achieving better value for money in public spending and greater fairness in the tax system.
The Conservative MP was vocal in questioning the then head of the Charity Commission during the PAC's 2013 inquiry into the regulator’s failings relating to the Cup Trust, a charity used as a vehicle for tax avoidance.
Barclay qualified as a solicitor in 1998 before working in financial regulation, for Axa Insurance and with the Financial Services Authority. He then moved into financial crime prevention, as director of regulatory affairs and subsequently head of anti-money laundering and sanctions at Barclays Retail bank.