Regulators approve ex-UK cabinet minister Gavin Williamson’s appointment to Lanistar advisory board
- Acoba Approval:
- The Advisory Committee on Business Appointments (Acoba) has approved Gavin Williamson’s appointment to the advisory board of UK-based fintech Lanistar.
- Williamson’s Role:
- Williamson aims to provide Lanistar with “guidance, connections (with financial institutions), and leadership.”
- He plans to contribute ideas and views related to the business’s strategy and priorities.
- Acoba Warning:
- Acoba has cautioned Williamson about the risk of using political connections obtained during his tenure to unfairly access and influence the government, which would violate lobbying ban rules.
- Committee Review:
- The committee found no evidence that Williamson engaged with or made specific decisions related to Lanistar during his time in office.
- The risk of the appointment being perceived as a reward for past decisions or actions is deemed low.
- Williamson’s Departure:
- Williamson left his ministerial role in November 2022 amid bullying accusations against Wendy Morton, to whom he apologized in September.
- Lanistar’s Advisory Board:
- Lanistar’s advisory board, yet to be operational, is expected to meet monthly, with Williamson’s participation compensated through shares.
- Founded in 2019, Lanistar initially focused on “polymorphic” cards but currently offers a standard debit card, available only in Brazil with 50,000 customers as of July.
