Shields replaces Keith Griffiths and Stuart Poynor, who both left their respective organisations in recent months.

Shields has 28 years of board level experience and is currently interim chief executive at Torbay and South Devon NHS Foundation Trust, appointed from his substantive post as deputy chief executive and chief finance officer at NHS Devon ICB.

He has previously held a range of chief executive and chief finance officer roles in the NHS, and overseas. Shields is a previous chair of the audit committee at the Chartered Institute of Public Finance and Accountancy and president of the Healthcare Financial Management Association, where he currently chairs its Financial Recovery Group.

Shields will work 50:50 across each ICB and be jointly accountable to Amanda Sullivan and Chris Clayton, the ICB chief executives. The joint working arrangements will go through a period of learning and refinement and link to the wider strategic joint working approach between the ICBs and continually inform their development. To reflect the wider determinants of health, Shields will also be responsible for building partnerships and collaborating with system leaders beyond the NHS, including public health, local government, and the voluntary & community sector.

Dr Chris Clayton, chief executive of NHS Derby and Derbyshire ICB, said: ‘The joint arrangements further cement the partnership working across the East Midlands, connected to the opportunities available through the creation of the East Midlands Combined County Authority. It has enabled the recruitment to a more strategic role, and Bill will lead the development of a strategy for financial sustainability across two systems to enable us to maximising synergies and benefits across the systems to meet our aims to improve health and healthcare.'

Amanda Sullivan, chief executive of NHS Nottingham and Nottinghamshire ICB, added: ‘Working alongside our ICB executives and wider system partners, Bill will lead the development and delivery of our long-term financial strategy. In seeking to meet our aims to improve local health and healthcare care, this financial strategy will ensure that NHS resources are effectively deployed and used to provide the best possible care for the population.'

Shields said: ‘The challenges facing NHS finances are well known, but I am joining two health systems who have the fundamental components in place to make the best use of the significant public resources at our disposal.

‘As we anticipate the publication of the Government's NHS 10-Year Plan, the groundwork that has been laid in the two systems puts us on a strong footing to deliver the NHS transformation required to support national policy and local need.'

Shields will take up the joint role on 1 April 2025.