G20 infrastructure hub appoints new CEO

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G20 infrastructure hub appoints new CEO

The Sydney-based G20 Infrastructure hub has appointed Christopher Heathcote as its inaugural chief executive.

Heathcote is currently a director of Macquarie Infrastructure and Real Assets in the United Kingdom, a division of Macquarie Group.

He joined Macquarie in April 2013 from Lloyds Banking Group, where he was global head of project finance responsible for project finance activities in infrastructure, utilities, renewable and conventional energy. He was previously a founding partner of Hyder's infrastructure investment fund and has also worked in London, where he was involved in the financing of a number of utilities, including Southern Water and Kelda.

He has been involved in a number of large transactions, including Wembley Stadium, London Underground, M25, the Melbourne Citylink and Gatwick Airport.

Treasurer Joe Hockey stated:

"His commercial background in infrastructure finance and experience in policy and regulation will ensure the hub has effective relationships with stakeholders including the private sector, governments, development banks and international organisations."

Heathcote will work with a board of directors which will include representatives of four G20 countries - the United Kingdom, China, the Republic of Korea and Turkey. Heathcote is a British national and is expected to commence duty on 15 June 2015 and to take up residence in Sydney with his family at the end of June 2015.

In November 2014, G20 leaders agreed to a new initiative to lift quality public and private infrastructure investment.

The hub, chaired by Secretary to the Treasury John Fraser, will work to address data gaps, lower barriers to investment, increase the availability of investment-ready projects, help match potential investors with projects and improve policy delivery, according to the G20.

It could help unlock an additional $2 trillion in global infrastructure capacity to 2030.

The Australian Government will be a major contributor to the hub, providing $30 million over five years. The United Kingdom, China, Saudi Arabia, New Zealand, the Republic of Korea, Mexico and Singapore have also committed to make financial contributions, which together total about $20 million.

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