Former banker Chris Brodie appointed new chair of Student Loans Company - on £50,000 per year

Mr Brodie will be paid £50,000 to attend 11 meetings a year

Chris Brodie (University of Sussex)

Chris Brodie, a former senior executive at the investment bank UBS, has been appointed chair of the Student Loans Company for three years from February.

Mr Brodie is also the chair of council at the University of Sussex, a three-year role he was appointed to in August of last year.

The universities minister David Willetts said of the appointment: “His appointment will provide support and leadership to the SLC as it embarks on a major programme of transformation, replacing its ageing core ICT systems and fully embracing digital technologies to improve radically the way it delivers services to customers.”

As non-executive chair, Chris Brodie will attend 11 meetings a year and participates in committees of the Board, and he will receive a fixed rate yearly remuneration of £50,000.

Mr Brodie is taken over from Professor Dame Glynis Breakwell, vice-chancellor at the University of Bath, who has acted as interim chair of the company since October, 2013 following Ed Smith’s stepping down in April the same year.

The Student Loans Company’s main roles are administering the Higher and Further Education loans and grants scheme to students in the UK and working in partnership with HMRC overseeing the repayment of student loans.