Indian-origin British MP Rishi Sunak, who on Thursday replaced Sajid Javid as UK's Finance Minister, tweeted last night that he is "honoured" to be appointed as Chancellor Of the Exchequer in the Boris Johnson cabinet.
Mr Sunak, 39, is married to the daughter of Infosys co-founder and billionaire Narayana Murthy, Akshata.
A former Goldman Sachs banker, Mr Sunak will be the second most powerful minister in the British government. Pakistani-origin Sajid Javid unexpected resignation paved the way for Mr. Sunak to the Boris Johnson-cabinet.
Mr Sunak was Sajid Javid's deputy as Chief Secretary to the Treasury. Mr Javid's resignation is said to be after a clash with Johnson's powerful adviser, Dominic Cummings. Mr Sunak, believed to be a close ally of British PM, is set to move into No. 11 Downing Street, next door to his office as he takes charge of the new role.
The pound and bond yields rose on the expectation that Mr Sunak's appointment would pave the way for a more expansionary budget next month.