History
The Shareholder Executive was originally established in September 2003 as part of the Cabinet Office. In 2004 it moved to the Department of Trade and Industry (DTI).
In 2007 the National Audit Office published a report into the Shareholder Executive. This was broadly positive but had some misgivings about its location in the DTI.
Following the abolition of the DTI in 2007 it moved to the Department for Business, Enterprise and Regulatory Reform (BERR) and then to its successor, the Department for Business, Innovation and Skills (BIS) in 2009.
The Shareholder Executive was originally involved in the government's nationalisation of Northern Rock and Bradford & Bingley at the start of the banking crisis in 2008. It then began the process of splitting off Northern Rock's 'bad bank' mortgage business to form Northern Rock (Asset Management). All bank shareholdings were transferred to UK Financial Investments in November 2008.
In 2011 the Government Property Unit was moved from the Shareholder Executive to the Cabinet Office.
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