A former Barclays corporate banking executive has been appointed as Britains export chief by Liam Foxs Department for International Trade.

A formal announcement is expected today confirming John Mahon will hold the new position of director general for exports.

“I am delighted to welcome John as our first director general for exports,” said Fox.

“With the IMF predicting that 90 per cent of global growth will come from outside the EU, his role will be key to helping UK businesses unlock opportunities around the world. Johns banking expertise will help us build the worlds best international economic department as we develop our own independent trade policy for the first time in more than 40 years – making the UK a global trading nation once again.”

It is understood that an internal announcement of Mahons appointment was made yesterday, Sky News first reported.

Mahon will report to Antonia Romeo, the departments permanent secretary, and will be charged with devising an exports strategy ahead of trade negotiations.

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