British Prime Minister David Cameron has appointed Stephen Green as the UK Minister of State for Trade and Investment.

Mr. Green will stand down as the Chairman of HSBC and will take up his new ministerial role early in 2011.

A statement from Number 10 Downing Street said today's appointment demonstrates the British Government's dedication to developing international relationships to assist British businesses abroad and drive exports and investment.

Mr. Green has extensive international experience having worked in Hong Kong, New York, the Middle East and London.

The role will be unpaid.

Prime Minister David Cameron said:

"I am delighted to appoint Stephen to this vital role. With Stephen's experience and expertise, I know he will make an invaluable contribution towards this crucial agenda, helping to drive strong economic growth in the UK.

"Working across the Department for Business and the Foreign Office, this role reflects the enormous importance this Government places on forging strong international relationships to open new trade links, promote British business overseas and maximise inward investment to the UK."

Foreign Secretary William Hague said: "Under the Coalition government, the Foreign Office is making economic and commercial objectives a priority in our international engagement. Stephen's appointment will hugely strengthen our work to secure the UK's economic recovery, promote open markets and inward investment and support greater access for British companies worldwide."

Business Secretary Vince Cable said:

"The appointment of Stephen Green sends a strong signal to our trading partners that the Government views the promotion of trade and investment as a key priority. In Stephen we will be appointing a Minister with a long career as a leading international banker, one of the few to emerge with credit from the recent financial crisis, and somebody who has set out a powerful philosophy for ethical business.

"Stephen will be flying the flag for British business abroad as we continue to strengthen our ties with crucial emerging markets and our key economic partners. I am sure that he will prove to be an excellent addition to our Ministerial team who will really help to bring trade and investment to the top of the agenda and drive the Government's international message that the UK is open for business. His background will also prove to be immensely beneficial in helping to develop the trade white paper which I aim to publish at the turn of the year."

Stephen Green said:

"It is an honour to accept this new role with Her Majesty's Government, serving Britain in the vital areas of trade and investment.

"In an increasingly competitive and international world, trade and investment are ever more critical to Britain's economic success and I am delighted to be joining the Government at this exciting and challenging time."