Ex-Slaughters lawyer Lucy Rigby named City Minister

Former City lawyer Lucy Rigby has been appointed as the new City Minister, taking up the role as part of the government’s ministerial reshuffle.

Rigby, who was elected MP for Northampton North in 2024, will serve as Economic Secretary to the Treasury - a position held alongside the City Minister brief, which covers engagement with and support for the financial services sector. The appointment comes after Angela Rayner’s resignation as home secretary triggered a wider Cabinet shake-up.

From City law to politics

Rigby began her career at Slaughter and May, where she trained and practised, before moving to litigation specialist Hausfeld and becoming a partner in 2021. She first became an MP last year, winning her seat as part of Labour's general election victory. She served as solicitor-general (the government's deputy chief legal adviser) up until her new role.

Her move into the Treasury role adds her to a growing list of former City lawyers to have crossed into government. Bim Afolami, who served as City Minister under the Conservatives in 2023-24, previously worked as an M&A lawyer at Freshfields and Simpson Thacher. Former education secretary Nicky Morgan practised at A&O and Travers Smith, while ex-Lord Chancellor David Gauke trained at Macfarlanes, where he now heads public policy.

The City Minister brief is closely watched in the Square Mile, given its remit for financial services policy and engagement with banks, asset managers and professional services.

Writing on X, Rigby said she was "delighted" to be working alongside the chancellor, Rachel Reeves, and added: "It’s never been so important that we harness the might of our financial services sector, & drive investment & growth right across the UK."