British national Christopher Heathcote has been appointed as the inaugural chief executive of the Global Infrastructure Hub in Sydney, a G20 initiative to increase global investment in infrastructure.
Mr Heathcote, most recently with Macquarie Funds Group, has worked at senior levels in the private and public sectors in the UK and Australia.
“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,” federal treasurer Joe Hockey said.
Mr Heathcote will work with a board of directors that will include representatives of four G20 countries – the United Kingdom, China, the Republic of Korea and Turkey.
According to Mr Hockey the creation of the hub will help unlock $2 trillion in investment and create millions of new jobs.
“As president of the G20, Australia put infrastructure investment at the centre of an agreement to lift global growth by two per cent by 2018,” Mr Hockey said.
“The hub, chaired by secretary to the Treasury John Fraser, will now collaborate with the private sector, development banks and international organisations to drive progress on the G20’s infrastructure agenda.”
The hub will report to the G20 and work with stakeholders globally to improve knowledge sharing on infrastructure projects, ensure provision of best practice information to G20 and non-G20 governments and address gaps in knowledge and data.
Mr Heathcote is expected to commence duty on 15 June and to take up residence in Sydney with his family at the end of June 2015.