The term 'City Minister' was first used as a nickname for the position of Financial Services Secretary to the Treasury which was created by Gordon Brown upon coming to office in October 2008.[2] The only person to have held the office was Lord Myners, who served from October 2008 to May 2010.[3][4]
In May 2010 as part of the ministerial reorganisation by the Cameron Government the position of Financial Services Secretary to the Treasury was abolished. However, the idea of there being a minister specifically responsible for the City was retained and it was decided that the post would be held concurrently with the position of Financial Secretary to the Treasury, held at the time by Mark Hoban.
Following Liz Truss becoming Prime Minister, although Richard Fuller retained his position as Economic Secretary to the Treasury, the City Minister brief was removed from him and returned to the Financial Secretary to the Treasury.[6]