Sasha Wiggins, chief executive of private banking and wealth management at Barclays, has been appointed chair of the UK’s government-backed new retail investment campaign.

Chris Cummings, CEO of the Investment Association, the fund manager's trade body, has also been appointed deputy chair of the campaign.

The nationwide campaign was announced by the Chancellor recently as part of the Leeds Reforms and will seek to raise awareness about the importance of investing for people’s future financial wellbeing and the value it brings to the economy.

The campaign is expected to run across several years with the aim of encouraging those who can, to become investors. It will focus on the benefits of investing, and encourage individuals to make more informed decisions in support of their long-term financial goals.

Ms Wiggins said: “For too long, the UK has had the lowest level of retail investing among G7 countries – and significantly lower levels than we saw in the UK two decades ago.

"This campaign will help make investing an everyday reality for more people. By increasing awareness, the campaign will aim to empower individuals to make informed financial decisions that will contribute to their future wellbeing.”

The industry-funded campaign is supported by the Treasury, the FCA, and the Money and Pensions Service (MAPS), with the Investment Association acting as its secretariat.

Chancellor Rachel Reeves said: “Too often a lack of information and support puts people off investing and benefiting from growth in our economy. Sasha’s expertise will help bring this campaign to life, break down barriers to investing and help savers’ money work harder for them - putting more money in their pockets as part of our plan for change.”