The ex-director general of the Confederation of British Industry has become a life peer with a job in Prime Minister Gordon Brown's administration.
Sir Digby recently took on a role as the government's Skills Envoy
Sir Digby Jones, 52, was born in Birmingham, went to Bromsgrove School and read law at university in London.
He has been appointed minister of state for trade and investment at the new Department for Business and Enterprise.
He will take up the Labour whip in the House of Lords but is not expected to join the Labour Party.
He told the BBC that, although he had criticised the government in the past, it would be wrong to pass up the opportunity of helping put business at the heart of a new administration.
He said: "if we have a prime minister who, at last, is saying 'let's get specialism into the functional government' whether it's health or security or whether it's science or business and enterprise, it's very important if we've been going on about this for years to support the Prime Minister in trying to achieve it.
"And I am absolutely delighted to get the chance to just put business, wealth and job creation right in the middle of decision-making and policy-formulation of the government."
After a spell in the Royal Navy, Sir Digby worked in corporate law, before joining consultants KPMG in 1998.
Sir Digby was director general of the Confederation of British Industry (CBI) between January, 2001 and June, 2006.
He has currently been acting as senior adviser to Barclays Capital, Ford, Deloitte and JCB.
Sir Digby was appointed a Knight Bachelor in the 2005 New Year's Honours List.
He includes rugby and military history among his interests.