Santander boss picked as advisor for British Invest, Commerce and Financial Service Council

This new body, served by independent experts on a pro bono basis, was set up out of the 2013 State budget to promote the UK financial services industry at home and abroad.

Members will meet for the first time on October 8 and will answer directly to the Secretary of the Treasury, who will be responsible for promoting foreign trade, attracting investment from abroad and attempting to break down barriers to accessing the financial services market in Britain.

The Council will be chaired by the director-general of financial services at the Treasury, Charles Roxburgh, and members include employees of the Foreign Office (FCO), the UK Trade and Investment Office (UKTI), the department of business – TheCityUK – and the international commerce and investments group.

In addition to Sra Botín, the other four independent members of the Council are Douglas Flint, Chairman of HSBC; director of Aberdeen Asset Management, Martin Gilbert; Chairman of Royal Sun Alliance, Martin Scicluna, and director of the London Stock Exchange Group, Xavier Rolet.

David Cameron's cabinet says the five independent members are leaders in their field with vast experience in financial services and are at the chalkface of successful global companies, meaning they can provide expert advice.

Botín says the Santander bank – one of the largest investors in the UK – hopes to use this 'major initiative' as an opportunity to bring even more capital into the country and promote its financial services sector around the world.