Sajid Javid

The Right Honourable Sajid Javid MP
Secretary of State for Business, Innovation and Skills
Incumbent
Assumed office 11 May 2015
Prime Minister	David Cameron
Preceded by	Vince Cable
Secretary of State for Culture, Media and Sport
In office 9 April 2014 – 11 May 2015
Prime Minister	David Cameron
Preceded by	Maria Miller
Succeeded by	John Whittingdale
Financial Secretary to the Treasury
In office 7 October 2013 – 9 April 2014
Prime Minister	David Cameron
Preceded by	Greg Clark
Succeeded by	Nicky Morgan
Economic Secretary to the Treasury
In office 4 September 2012 – 7 October 2013
Prime Minister	David Cameron
Preceded by	Chloe Smith
Succeeded by	Nicky Morgan
Member of Parliament for Bromsgrove
Incumbent
Assumed office 6 May 2010
Preceded by	Julie Kirkbride
Majority	16,529 (31.6%)
Personal details
Born	5 December 1969 Rochdale, Lancashire, United Kingdom
Nationality	British,English
Political party	Conservative
Spouse(s)	Laura Javid (1996–present)
Children	4
Alma mater	University of Exeter
Website	Official website

Sajid Javid (Urdu: ساجد جاوید‎; born 5 December 1969) is a British Conservative Party politician and former managing director at Deutsche Bank who has been the Member of Parliament (MP) for Bromsgrove since 2010 and Secretary of State for Business, Innovation and Skills since 11 May 2015.

Javid previously served as Secretary of State for Culture, Media and Sport from 2014 to 2015, Minister for Equalities in 2014, Financial Secretary to the Treasury from 2013 to 2014 and Economic Secretary from 2012 to 2013.^[1] Some commentators, including radio presenter Iain Dale, have stated that Javid has a chance of becoming Leader of the Conservative Party, should David Cameron stand down before the next general election and trigger a leadership election.^[2][3]

Early life

Javid was born in Rochdale, Lancashire, one of five sons of parents of Pakistani descent.^[4][5] His father was a bus driver. His family moved from Lancashire to Stapleton Road, Bristol.

Javid was educated from 1981 to 1986 at Downend School, a state comprehensive near Bristol, followed by Filton Technical College from 1986 to 1988, and finally the University of Exeter from 1988 to 1991. At Exeter he studied economics and politics and became a member of the Conservative Party.^[6][7]

When he was twenty, Javid attended his first Conservative Party Conference and campaigned against the Thatcher government's decision in that year to join the European Exchange Rate Mechanism (ERM), calling it a "fatal mistake".^[8]

Javid joined Chase Manhattan Bank in New York immediately after university, working mostly in South America. Aged 25, he became the youngest vice-president in the history of the bank.^[9] He returned to London in 1997, and later joined Deutsche Bank as a director in 2000. In 2004 he became a managing director at Deutsche Bank and, one year later, global head of Emerging Markets Structuring.^[10]

While in this role, Javid spoke with the press about a $500 million EM CLO called Craft EM CLO 2006-1, which was subsequently upsized to $1 billion in the face of investor demand. However, by March 2009, losses on defaulted assets in the Craft EM CLO 2006-1 pool stood at $32 million. Arco Capital tried to take Deutsche Bank to court in September 2012 over the $37 million in losses it incurred by investing in the deal. Arco claimed Deutsche stuffed the CDO with ineligible loans that resulted in the 14.28% loss rate in the pool. Deutsche claimed the losses were due to the financial crisis, and Arco was aware of the risks it was taking on.^[11]

In 2007 he relocated to Singapore as head of Deutsche Bank's credit trading, equity convertibles, commodities and private equity businesses in Asia,^[12] and was appointed a board member of Deutsche Bank International Limited. He left Deutsche Bank in 2009 to pursue a career in politics. His earnings at Deutsche Bank would have been roughly £3m a year at the time he left.^[13]

Javid is a trustee of the London Early Years Foundation, was a governor of Normand Croft Community School, and has led an expedition to the summit of Mount Kilimanjaro, the highest mountain in Africa, to show his support of Help The Aged.^[14]

Political career

Member of Parliament

On 28 May 2009, the serving MP for Bromsgrove, Julie Kirkbride, announced that she would be standing down at the following general election in light of the expenses scandal; Kirkbride had represented Bromsgrove since 1997. Her resignation was confirmed in December 2009, after she attempted to withdraw it.^[15]

Javid (right) at the 2011 Conservative Party Conference

After a selection contest held by the Bromsgrove Conservative Association on 6 February 2010, in which he received over 70% of the votes cast by its members, Javid was announced as the Conservative Parliamentary Candidate for the 2010 general election. In the election held on 6 May 2010, Javid received 22,558 votes, winning the seat by a majority of 11,308.^[16] In terms of the number of votes cast in the constituency, this was an increase on the majority of 10,080 at the previous general election,^[17] though was a reduction when compared both to the actual number of votes his predecessor had received (24,387) and to the Conservatives' percentage share of the vote (43.7% versus 51.0% in 2005).

According to former Foreign Secretary Jack Straw, those MPs first elected in 2010 "are the best new MPs for over thirty years", and he identified Javid as one of six Conservative MPs that he believed had "already made an impact in the first term".^[18] Javid was also one of six new MPs profiled by the Financial Times, and was named the Newcomer of 2010 by the ConservativeHome website.^[19][20]

In an analysis of the 2010 intake of MPs by Westminster consultancy firm Guide Public Affairs, Guide to the Next Prime Minister, published in August 2011, Javid ranked third, and was the top-scoring Conservative.^[21][22] In October 2012, Iain Dale in The Daily Telegraph included Javid in his list of "Top 100 most influential figures from the Right".^[9] Dale wrote: "His fast rise up the greasy pole into George Osborne's inner circle is not only proof of this man's ambition but also his talent." Nicholas Watt in The Guardian has also suggested that Javid could rise to the top.^[23]

In The Times' 2014 right-wing power list, Javid moved up 18 places to number 8, with the article stating that he had emerged "as the senior member of the 2010 intake" and that if "the Tories want to jump a generation, then a Javid leadership candidacy would provide the opportunity."^[24] The 2014 GG2 Power List ranked Javid as the most influential British Asian ^[25] and, at the accompanying GG2 Leadership Awards event on 5 November 2014, David Cameron described Javid as "the brilliant Asian man who I asked to join the Cabinet" and stated that "I want to hear that title 'Prime Minister' followed by a British Asian name."^[26]

A Conservative Home poll conducted in December 2014 marked Javid as the "Conservative to Watch in 2015".^[27] The responses to the survey were tested against a control panel supplied by YouGov, and Javid topped the poll, receiving 43% of the votes cast. In July 2014, Forbes magazine compared Sajid Javid to Barack Obama and suggested that Javid could become the next Prime Minister of the United Kingdom.^[28]

Javid was briefly a member of the Work and Pensions Select Committee from June to November 2010, before relinquishing this position when he was appointed Parliamentary Private Secretary to John Hayes, then Minister of State for Further Education at the Department for Business, Innovation and Skills.^[29] Javid was one of the first new MPs to become a Parliamentary Private Secretary. On 14 October 2011, as part of a small reshuffle prompted by the resignation of Liam Fox as Defence Secretary, Javid was promoted to become Parliamentary Private Secretary to Chancellor of the Exchequer George Osborne.^[30][31][32] He remained in this position until 4 September 2012, when he joined Osborne's ministerial team as Economic Secretary to the Treasury. He was later promoted to Financial Secretary to the Treasury on 7 October 2013.^[33] On 1 March 2014, Javid was criticised for comments accusing Labour Leader Ed Miliband of having some responsibility for the crisis in Crimea, alleging that there was “a direct link” between Miliband’s refusal to support military intervention in Syria and the subsequent Russian activity in Ukraine.^[34]

The UK drinks industry thanked Javid for creating a penny off the pint whilst he served as Economic Secretary to the Treasury.^[35]

Culture Secretary

On 9 April 2014, Prime Minister David Cameron appointed Javid to the Cabinet as Secretary of State for Culture, Media and Sport and Minister for Equalities following the resignation of Maria Miller over her expenses. This made him the first MP to have been elected in 2010 to join the Cabinet, and the first British Pakistani MP to lead a Government Department. Shortly after his appointment, he was made a Privy Councillor.^[36]

Javid defended media freedom and the right of the press to investigate wrongdoing by politicians and officials in his first appearance as culture secretary on BBC's Question Time programme. "The public were right to judge her on how she responded, there's absolutely nothing wrong with that," he said. "And the media … I don't think you can blame this on Leveson or the media or something. The media are a cornerstone of our democracy, their freedom is very important and if they want to investigate wrongdoing by politicians or any other public official they should do that and nothing should stop them from doing that."^[37] It was reported in May 2015 that in March Javid had opposed plans by Theresa May to give Ofcom "counter-extremism powers" to vet British television programmes before they were broadcast. In a letter to David Cameron he commented that countries which had similar arrangements "are not known for their compliance with rights related to freedom of expression and the Government may not wish to be associated with such regimes".^[38]

His speech as Culture Secretary to the Union of Jewish Students' Annual Conference 2014 about the importance of diversity and free expression in the world of culture^[39] has been hailed by Isabel Hardman of The Spectator as "one of the finest speeches from a government minister I have ever read."^[40]

Business Secretary

Following the 2015 general election, Javid was appointed as Secretary of State for Business, Innovation and Skills in the new Conservative majority government under Prime Minister David Cameron. He was, at this time, described as "the most robust right-winger in the cabinet", a "true Thatcherite".^[41]

After being appointed Business Secretary, Javid said that there would be "significant changes" to strike laws under the new Conservative government, announcing that strikes affecting essential public services will need the backing of 40% of eligible union members under government plans.^[42]

Israel

At a Conservative Friends of Israel lunch in 2012, The Jewish Chronicle reported Javid as stating that "if he had to leave Britain to live in the Middle East, then he would choose Israel as home. Only there, he said, would his children feel the “warm embrace of freedom and liberty”.^[43]

Awards

In January 2015, Javid was awarded the Politician of the Year award at the British Muslim Awards.^[44]

Personal life

Javid lives with his wife Laura and their four children. He has previously said that his family's heritage is Muslim, but that he does not practise any religion, although he believes that "we should recognise that Christianity is the religion of our country".^[45]

See also

• List of British Pakistanis

References

1. Owen, Paul (7 October 2013). "Coalition government reshuffle". The Guardian. Retrieved 7 October 2013.
2. Nicholas Watt. "Tory party: the rising stars and those fading fast". the Guardian. Retrieved 28 January 2015.
3. Iain Dale. "Profile: Sajid Javid". ethosjournal.com. Retrieved 28 January 2015.
4. Eaton, George (14 April 2014). "Sajid Javid's father would never have made it into Cameron's Britain". New Statesman. Retrieved 22 November 2015.
5. Forsyth, James (26 January 2013). "Interview with Sajid Javid, the bus driver's son who may end up leading the Tories". The Spectator. Retrieved 22 November 2015.
6. Sajid Javid Biography
7. Profile of Sajid Javid
8. "Treasury minister Sajid Javid: Don’t slam the City, it represents some of the best of capitalism". The Evening Standard. Retrieved 28 January 2015.
9. Iain Dale "Iain Dale's Top 100 most influential figures from the Right 2012", Daily Telegraph, 7 October 2012
10. "Deutsche Bank appoints Sajid Javid as Global Head of Emerging Markets Structuring". db.com. 27 May 2005. Retrieved 28 January 2015.
11. "Sajid Javid: From risky business to business secretary". 13 May 2015.
12. "Deutsche Bank appoints Sajid Javid Head of Global Credit Trading, Asia". db.com. 11 October 2006. Retrieved 28 January 2015.
13. Donaldson, Kitty; Hutton, Robert (9 April 2014). "U.K. Treasury's Javid Moves to Culture After Miller Quits". bloomberg.com. Retrieved 9 April 2014.
14. http://www.sajidjavid.com/text.aspx?id=60
15. Jagger, Suzy (19 December 2009). "Julie Kirkbride to stand down at election after expenses scandal". London: The Times. Retrieved 8 May 2010.
16. "Tory wins health candidate Dr Taylor's Wyre Forest seat". BBC. 7 May 2010. Retrieved 8 May 2010.
17. "BBC NEWS – Election 2005 – Bromsgrove". BBC News.
18. "These are the best new MPs for over 30 years". The Times. Retrieved 28 January 2015.
19. "New MPs set out with confidence". Financial Times. Retrieved 28 January 2015.
20. "Newcomer of 2010". Conservative Home. Retrieved 28 January 2015.
21. Guide Public Affairs
22. Story Town
23. Nicholas Watt "Tory party: the rising stars and those fading fast", theguardian.com, 31 January 2013
24. "Login". thetimes.co.uk. Retrieved 28 January 2015.
25. "The list". The Independent (London).
26. Hope, Christopher (5 November 2014). "I want to see a British Asian Prime Minister, says David Cameron". Telegraph.co.uk (London). Retrieved 28 January 2015.
27. "Sajid Javid is our readers’ Conservative to Watch in 2015". Conservative Home. Retrieved 28 January 2015.
28. Capital Flows (24 July 2014). "Sajid Javid: The Next Prime Minister of Great Britain?". Forbes. Retrieved 28 January 2015.
29. "Bromsgrove MP appointed to new role in Parliament". Bromsgrove Advertiser. 25 November 2010.
30. Javid promotion
31. Montgomerie, Tim (15 October 2011). "How will the Right cope without Liam Fox?". The Daily Telegraph (London).
32. "Sajid Javid gets promotion in Cabinet reshuffle". obv.org.uk. Retrieved 28 January 2015.
33. Morris, Nigel (7 October 2013). "'Conspiracy theorist' Norman Baker replacement of Jeremy Browne heads list of reshuffle surprises". The Independent (London). Retrieved 28 January 2015.
34. McElroy, Damien (1 March 2014). "Ukraine tells Putin: this could be war". Telegraph.co.uk (London). Retrieved 28 January 2015.
35. http://siba.co.uk/2013/05/local-brewers-show-support-for-duty-cut/
36. "The Rt Hon Sajid Javid MP". www.gov.uk. Retrieved 28 January 2015.
37. Mason, Rowena (11 April 2014). "Sajid Javid: media not to blame for Maria Miller's resignation". The Guardian. Retrieved 28 January 2015.
38. Turner, Camilla (22 May 2015). "Theresa May's proposal to censor TV was opposed by cabinet colleague, leaked letter reveals". Daily Telegraph (London). Retrieved 13 June 2015.
39. "Sajid Javid's speech at the Union of Jewish Students' Annual Conference 2014". www.gov.uk. Retrieved 28 January 2015.
40. Hardman, Isabel (16 December 2014). "Is this the best speech given by a minister in this government?". Spectator Blog. Retrieved 28 January 2015.
41. Pickard, Jim (3 February 2016). "Conservatives: the party of business?". Financial Times. Retrieved 8 February 2016.
42. "Sajid Javid: Significant changes to strike law". BBC News. 12 May 2015. Retrieved 12 May 2015.
43. Bright, Martin (13 December 2012). "Muslim Tory MP: After Britain, Israel is best". The Jewish Chronicle. Retrieved 10 April 2014.
44. "British Muslim Awards 2015 finalists unveiled". Asian Image. 23 January 2015. Retrieved 1 November 2015.
45. "Politics in the pulpit". villageonline.co.uk. Retrieved 28 January 2015.

External links

• Official website
• Sajid Javid MP Conservative Party profile
• Bromsgrove Conservatives
• Voting record at Public Whip
• Record in Parliament at TheyWorkForYou
• Profile at Westminster Parliamentary Record
• Profile at BBC News Democracy Live
• Official channel at YouTube
• Debrett's People of Today