Jonathan Hill, Baron Hill of Oareford

In July 2014, Prime Minister David Cameron nominated Lord Hill to be UK European Commissioner under Jean-Claude Juncker, President-elect of the European Commission, aiming for a "top economic portfolio".[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.[16] Juncker stated after his election that female and high-profile candidates would be among his preferred choices,[17] prompting speculation by some that Cameron's nomination – of a virtually unknown male in European political circles, despite his competence – to be a protest against Juncker whose election he had opposed.[18]

On 10 September 2014 Lord Hill was announced as EU Commissioner-designate for the Financial Stability, Financial Services and Capital Markets Union portfolio in the forthcoming Juncker Commission. 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.[20] He was one of four appointees who allegedly "struggled to impress" at their initial confirmation hearings before the European Parliament,[21] and was required to appear for a second hearing[22] — leading some hostile MEPs to start speculating that his appointment could be revoked in a reshuffle.[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.[24][25][26]

Lord Hill secured the endorsement of sceptical MEPs at his second EU hearing in Brussels.[27]

Lord Hill announced his resignation from his post of European Commissioner on 25 June 2016, to take effect on 15 July 2016, following the result of the referendum on the UK's membership of the European Union.[1][2][3]