Sajid Javid has been promoted from his ministerial role at the Treasury to become the new Culture, Media and Sport Secretary, David Cameron has announced.
He replaces Maria Miller, who resigned last night amid mounting pressure over her Commons expenses.
Javid is MP for Bromsgrove MP, a former managing director at Deutsche Bank, and has long been tipped as a rising star in the Conservative Party and has served as Financial Secretary to the Treasury since last October.
A father of four, he is part of the 2010 intake of MPs and was quickly made a member of the Work and Pensions Select Committee.
At the age of 25 he became a vice-president at Chase Manhattan Bank and his background in finance made him an obvious choice for a job under Chancellor George Osborne.
In 2012 the state-educated MP was made economic secretary to the Treasury, rising up the departmental ranks the following year.
Prime Minister David Cameron moved swiftly to fill the gap caused by Miller's departure. Cameron is said to have expressed "sadness" after Miller informed him last night that she was going.
Speaking in her House of Commons office, Miller – who appeared close to tears – said she hoped her resignation would enable the Government to "move on".
"This has been a really difficult 16 months. Because I was cleared of the central allegation made about me by a Labour Member of Parliament I hoped that I could stay. But it has become clear to me that it has become an enormous distraction," she said. "It is not right that I am distracting from the incredible achievements of this Government."
Asked if she had been pressurised into quitting she said: "I take full responsibility for my decision to resign. I think it is the right thing to do to remove what has become really an unhelpful and very difficult distraction for colleagues."
She played down claims by her supporters that she had been the victim of a media witch-hunt because of her role in implementing the recommendations of the Leveson Inquiry on press standards.
"I take full responsibility for the situation. I fully accept the findings of the parliamentary standards report. This is about that," she said.
She added: "I have made it clear and apologised unreservedly to the House of Commons and made sure that it was clear to everybody that I took full responsibility for those findings. I want to make that the situation is clear to everybody and make sure that I can move on."