Lord Jonathan Hill, UK’s commissioner for financial stability, financial services and the capital markets union of the European Union (EU), has resigned from his post after Britain voted to leave the EU in a referendum.
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Hill, who was a British Conservative politician, had campaigned for continuation of UK’s membership in EU.
EU president Jean-Claude Juncker said: "At the beginning of this Commission’s mandate, I wanted the British Commissioner to be in charge of Financial Services, as a sign of my confidence in the United Kingdom’s membership of the European Union. To my great regret, this situation is now changing."
The financial-services portfolio has now been handed over to Valdis Dombrovskis, Latvia’s commissioner and a vice president to Juncker.
"In his role as Vice-President, Valdis Dombrovskis is already coordinating many of the key files under this portfolio, working closely with other Commissioners, the European Parliament and the Council on several important legislative proposals in this area, such as the European Deposit Insurance Scheme," Juncker said.
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