[15] Cameron's nomination, rather than that of a better-known British politician, was regarded as controversial at that time since Hill had allegedly expressed initial reluctance to serve in Brussels; two former Conservative Party leaders, Michael Howard and William Hague, had both reportedly turned down this opportunity and it appeared David Cameron was keen to avoid triggering a potentially difficult by-election by nominating any other sitting Conservative MP.

This newly created Directorate-General is tasked with assimilating existing EU expertise as well as responsibility for ensuring that the European Commission remains vigilant over the banking and financial sectors and remains pro-active in implementing new supervisory and regulatory rules accordingly,[19] save overseeing pay in the financial sector where Lord Hill and Elżbieta Bieńkowska will share joint responsibility.

[23] With some "diplomatic smoothing of the way by Juncker", Hill it is said "managed" to give satisfactory answers as to the UK's position regarding European banking union.

[28] In 1988 Hill married Alexandra Jane,[citation needed] daughter of Major John Nettelfield MC, a British Army officer who served with distinction in the Royal Artillery during World War II;[29] Lord and Lady Hill have a son and two daughters.

[30][31] In January 2013, The Independent stated he reportedly held at least £50,000+ worth of shares in the company which bought Quiller in 2006 for £5.9m,[32] headed by Conservative parliamentarian Lord Chadlington.