UBS has hired Bank of England adviser Huw van Steenis to chair its new body focused on sustainable finance.

Mr van Steenis, who joins UBS on 2 September, was an adviser to Mark Carney at the Bank of England where he led a review of the future of the financial system and what it might mean for the central bank.

His arrival marks the creation of UBS’s Sustainable Finance Committee, to be made up of senior leaders from UBS.

“UBS is further sharpening its focus on sustainable finance, recognizing increasing client demand and the leading position it already has in the field,” the firm said in a statement.