Career
He is also a director of Hongkong Land, Dairy Farm and Mandarin Oriental. He is Chairman of the China-Britain Business Council. Sassoon was the first Commercial Secretary to the Treasury from May 2010 to January 2013, a ministerial position in Her Majesty Treasury, the United Kingdom"s finance ministry.
Sassoon had a long career in the financial sector and previously served in various roles at the Treasury from 2002 to 2008, at which point he began advising David Cameron on financial issues.
He was appointed to the House of Lords in connection with his ministerial appointment. Sassoon began a career in finance at Thomson McLintock & Company in 1977, before joining South.G. Warburg & Company
(later Union Bank of Switzerland Warburg) in 1985. He became a director in 1995, leading the firm"s privatisation business, and serving as Vice Chairman, Investment Banking from 2000 to 2002.
Sassoon has also served as a director of the following organisations: Partnerships United Kingdom, 2002-2006.
Merchants Trust, 2006-2010 (chairman 2010). The ifs School of Finance, 2009-2010 (chairman) and the Nuclear Liabilities Fund, 2008–2010. He was a trustee of the National Gallery Trust, 2002-2009 and of the British Museum, 2009-2010 and since 2013.
In 2002, he joined Her Majesty Treasury, becoming Managing Director of Finance, Regulation and Industry, a position he served in until 2006.
Sassoon then became the Chancellor"s Representative for Promotion of the City. In 2007, he was named President of the Financial Action Task Force on Money Laundering.
He continued in both roles until 2008. Sassoon received a knighthood in the 2008 New Year Honours.
In May 2010, he was named Commercial Secretary to the Treasury, a minister whose portfolio includes financial services and business matters.
In consequence, it was announced he would be made a life peer, and he was introduced in the House of Lords on 3 June 2010 having been created Baron Sassoon, of Ashley Park in the County of Surrey on 29 May 2010. lieutenant was announced in the 2012 Cabinet reshuffle that Paul Deighton would replace Lord Sassoon in January 2013 as Commercial Secretary to the Treasury following appointment to the House of Lords and in line with Sassoon"s desire to return to the private sector.