Charles Roxburgh has been appointed as director general of financial services at HM Treasury.
He will have responsibility for all issues relating to financial services, the financial system and financial stability.
Present director general Jonathan Taylor is leaving the position to work as vice-president of the European Investment Bank.
Mr Roxburgh currently works as a senior partner at management consultancy McKinsey & Company where he has worked since 1986. He has held a variety of roles within the firm including head of UK financial institutions and co-head of global corporate and institutional banking.
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He is also a director at McKinsey Global Institute and has conducted research on topics such analysis of the UK's growth challenges and opportunities, global capital market trends and how sovereign wealth, hedge funds and private equity have fared in the financial crisis.
Prior to working at McKinsey & Company he was a consultant at accountancy firm Arthur Andersen and Co.
Mr Roxburgh will take up his new role at the Treasury in early February 2013.

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