SIR Danny Alexander is moving to Beijing with the official confirmation that he has been appointed to take up a lucrative post at the new Asian Infrastructure Investment Bank.

The former Treasury chief, who lost his Inverness seat in the SNP General Election landslide, is to take up the role of Vice-President and Corporate Secretary. He will also be a member of AIIB’s board of directors.

Last month, The Herald reported that Sir Danny, 43, had been nominated for the role with AIIB – China’s equivalent of the Washington-based World Bank - by his former boss at the Treasury, George Osborne.

It is thought the Liberal Democrat politician, one of five vice-presidents, will look after the interests of "wider Europe", mainly non-eurozone EU member states, while his German colleague on the board will look after the interests of those countries which use the single currency.

The AIIB will support financing for infrastructure projects across the whole of Asia, using a variety of support measures, including loans, equity investments, and guarantees to boost investment across a range of sectors including transportation, energy and telecommunications.

The Treasury, which confirmed Sir Danny’s appointment, said the UK would have one of the 12 seats on the AIIB's board, “delivering crucial influence ?in the Bank from the outset”.

The Chancellor said: "I worked very closely with Danny over the last five years. I know him to be a person of real intelligence and integrity and from his record as Chief Secretary to the Treasury - where he helped turn around the UK public finances and oversaw the Coalition’s infrastructure programme - will bring a huge amount of experience that will be a huge asset in setting up this important international body.”

He added that Sir Danny’s appointment, along with the UK's position on the AIIB board, showed the UK was “playing a crucial role as the AIIB is formally established". "Britain's influence is being felt across the world," he added.

Meantime Sir Danny, a father-of-two, said he was delighted to have been appointed to his new role.

“I look forward to using my experience and skills, including as Chief Secretary to the Treasury during one of the most challenging recent times for the UK economy, to help ensure the AIIB succeeds.”

He added: “I will relish the challenge of being part of this new institution as it establishes itself as a crucial part of the multilateral landscape, supporting growth, tackling climate change, and helping drive up living standards in Asia.

“The creation of the AIIB is the right initiative at the right time to meet these challenges and I am committed to doing all I can to support the success of the Bank."