Regulation author Sassoon named minister

LONDON Wed May 19, 2010 5:36pm BST

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LONDON (Reuters) - Conservative Party regulation blueprint author James Sassoon will take up the new post of Commercial Secretary at the Treasury, the government said on Wednesday.

The former UBS Warburg banker will have a wide brief across the whole business and financial services agenda.

Sassoon wrote the Conservative financial regulation policy paper which outlines plans to abolish the Financial Services authority and give the Bank of England greater powers over supervision.

He previously worked at the Treasury when Gordon Brown was chancellor as an ambassador to the City of London.

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