Former senator Edward Haughey has left the Ulster Unionists and joined the Conservative benches in the House of Lords.
Mr Haughey, founder of pharmaceuticals company Norbrook Laboratories in Newry, Co Down, was made a life peer in 2004 by the then Ulster Unionist leader David Trimble and he adopted the title Lord Ballyedmond. Since then, Lord Trimble has joined the Conservatives.
Mr Haughey was appointed to the Seanad by the then taoiseach Albert Reynolds in 1994 and was re-appointed by Bertie Ahern.
Vice-chairman of the Conservatives in Northern Ireland Julian Robertson said: "Lord Ballyedmond is one of Northern Ireland's most successful businessmen and we are delighted he is joining us." His decision to support the Conservatives was another indication that more and more people were questioning the future of the UUP, he added.
"We now have a relatively stable political situation and with that comes the increasing realisation that there is more to politics than just devolution. Lord Ballyedmond realises that the two big parties dominate proceedings at Westminster," he said.