Ex-JP Morgan banker takes over from Andrea Leadsom

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David Cameron has appointed Harriet Baldwin (pictured) as the government’s new City minister.

Baldwin takes over as economic secretary to the Treasury from Andrea Leadsom, who has been appointed a minister of state at teh Department for Energy and Climate Change.

Before entering politics, the 50-year old worked at JP Morgan Chase 22 years, rising to becoming managing director and head of currency management at the investment bank’s London office in 1998.

She left in 2008 and was elected to the House of Commons in 2010 as MP for West Worcestershire.

During the last Parliament, she was a junior minister at the Department of Work and Pensions in 2012 and a whip.

As economic secretary, she will oversee financial service regulation.