Hereditary peers are for the chop, but life peers still have their uses. Last October the process of ennoblement allowed Keir Starmer to appoint a minister of state for investment in rapid preparation for his investment summit of that month. Finding no-one on the green benches who took his fancy, he turned to Poppy Gustafsson, a chartered accountant who went on to co-found the cyber security firm Darktrace, for which she served as chief financial officer followed by chief executive until it was sold to a private equity firm last year.
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