Leighton Holdings announced last week the appointment of Mr Javier Loizaga as Chief Financial Officer. The appointment of the Mr. Loizaga is a new step Spain-based ACS is taking in the process of controlling Leighton, through its stake in Germany's Hochtief.

Mr Loizaga has 24 years of investment, finance, corporate advisory and business restructuring experience across a broad range of international markets and industries. Most recently, Mr Loizaga was the Co-Chairman and Chief Executive Officer of N+1 Mercapital, one of Spain's leading independent investment firms, which also has a strong presence in Latin America.

"As one of the most respected investment executives in Spain, Mr Loizaga will bring to Leighton his vast his experience in all aspects of corporate finance and financial management.

"A civil engineer by training, Mr Loizaga has both a thorough understanding of the operations of a large contracting company as well as proven expertise in financial management and corporate transformations.These skills will be valuable as we seek to more efficiently structure Leighton's operations to the benefit of clients, employees and shareholders."

Javier Loizaga has 24 years of experience in financial services and advisory work, and was most recently the Co-Chairman and Chief Executive Officer of N+1 Mercapital. Prior to its merger with N+1, Mr Loizaga led Mercapital, the Spanish pioneer private equity firm. He raised more than €1.8 billion from institutional investors; led a significant number of the firm's 60 plus investments in various industries including construction, IT, hotels, healthcare and energy; and generated significant shareholder value.

Mr Loizaga has been a member of the Board of Directors of numerous companies in which N+1 Mercapital has invested and he has experience across a wide variety of industries.

Before joining Mercapital, Mr Loizaga was an Investment Director at leading French financial conglomerate Compagnie De Suez. He started his career with Arthur Andersen's IT and Management Consulting Division. Mr Loizaga is a civil engineer and holds a Masters in Business Administration from INSEAD.