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New Infrastructure Finance Working Group



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Media Statement

NEW INFRASTRUCTURE FINANCE WORKING GROUP

I was pleased to announce the members of Infrastructure Australia’s new Infrastructure Finance Working Group.

Establishment of the Working Group was one of a number of measures outlined in this year’s Budget designed to strengthen Infrastructure Australia and its capacity to drive further lasting improvements to the way our nation plans, finances and builds the infrastructure it needs.

I congratulate the following individuals on their appointment:

• Mr Jim Murphy (Chair) - the Australian Treasury; • Mr Ross Rolfe (Deputy Chair) - Alinta Energy; • Mr Mike Mrdak - Department of Infrastructure and Transport; • Dr Paul Schreier - Department of Prime Minister and Cabinet; • Mr Stephen Williams - Royal Bank of Scotland; • Mr David Byrne - ANZ; • Mr Julian Vella - KPMG; • Ms Pauline Vamos - Association of Super Funds of Australia; • Mr Brendan Lyon - Infrastructure Partnerships Australia.

The Working Group will advise Infrastructure Australia and government on the implementation of the Budget measures as well as help identify projects which would benefit from private investment, the applicability of user charges and alternative financing models, and opportunities for further financing reform.

I have also requested that the Working Group examine:

• Reforms to PPP processes and procurement to streamline and lower costs, with reference to international experience; • Proposals to improve the Commonwealth grants process and better utilise the strength of the Commonwealth ‘balance sheet’; • Ways to further develop a long term tradable bond market; and • Measures to deepen the pipeline of potential infrastructure projects.

The Gillard Labor Government’s 2011 Budget increased funding for Infrastructure Australia by almost 40 per cent, put in place new tax measures to attract

additional private investment in nationally significant projects and introduced measures to improve transparency across the national infrastructure market.

Media contact: Jeff Singleton 0410 476 890

Tuesday, 21 June 2011

INFRASTRUCTURE FINANCE WORKING GROUP: MEMBERSHIP

Mr Jim Murphy (Chair)

Jim Murphy is the Executive Director of Markets Group, Federal Treasury. In this position he has responsibility for policy relating to the financial system including prudential and corporate regulation; competition and consumer policy, and foreign investment.

Prior to his current appointment with the Treasury, Jim was an Advisor with the International Monetary Fund in Washington DC. Jim has broad experience within the Australian Government having held senior positions with the Department of Finance as head of Budget Policy, the Attorney General’s Department as head of the Business Law Division and with the Treasury as Principal Adviser for Corporations Law.

In these positions, Jim led major Government policy initiatives including the corporate law economic reform program, new arrangements for the managed funds industry and the inter-governmental agreement for regulation of corporations and financial markets.

Jim is a member of the Financial Reporting Council, the Trans Tasman Accounting and Auditing Standards Advisory Group, the Financial Sector Advisory Council, the Council of Financial Regulators and is a Director of Australian Reinsurance Pool Corporation. Jim holds degrees in Economics and Law from the University of New South Wales, the University of Sydney and the Australian National University.

Mr Ross Rolfe AO (Deputy Chair)

Ross Rolfe has more than 15 years experience in the Australian energy and infrastructure sector in both senior executive and board roles. Ross has held a range of chief executive officer positions in the Queensland Government and in industry over the last decade.

Ross is currently CEO and Managing Director of Alinta Energy.

Prior to his appointment at Babcock & Brown Power, Ross held the positions of Director General - Department of the Premier and Cabinet, Director General - Department of State Development and Director General - Department of Environment and Heritage.

Ross also held the position of Co-ordinator General in Queensland for six years. Ross was also the Chief Executive Officer of Stanwell Corporation, one of Queensland's largest energy generation companies.

Ross is currently a non-executive director of Thiess Pty Ltd and Evans and Peck Pty Ltd and is a member of the National Board of Infrastructure Partnerships Australia. Ross' other board experience includes member of the chairmanships of Queensland Manufacturing Institute and i.lab Technology Incubator and directorships of the Queensland Low Emissions Technology Centre, Emu Downs Wind Farm, Queensland Resources Council, Queensland Institute of Molecular

Bioscience, Australia Institute for Commercialisation and South Bank Corporation.

Ross holds a Bachelor of Arts with Honours from the University of Queensland.

Mr Mike Mrdak

Mike is Secretary of the Department of Infrastructure and Transport, a position he took up in 2009.

A career public servant, he has also served as Deputy Secretary, Department of Prime Minister and Cabinet (2008-09) and Deputy Secretary, Department of Transport and Regional Services.

Mr Stephen Williams

Stephen Williams is currently the Country Executive at the Royal Bank of Scotland.

Stephen joined RBS in 1996 to inaugurate an Asian Structured Finance presence in Singapore. He relocated to Sydney in 1999 as Managing Director of RBS Australia. Stephen is responsible for spearheading the Bank’s growth and activity in Australia over the past decade.

During this time the bank has grown to full branch status offering an array of Global Banking and Marketing (GBM) products and services.

Stephen has almost a quarter of a century of experience in the Structured Finance Sector of both the financial services industry (Midland Bank, Samuel Montagu & RBS) and as an investor/sponsor with National Power/International Power (1993-96). He is experienced in the developing, structuring and closing of major structured financing transactions from a borrowers and lenders perspective.

Stephen holds an MBA from the Cranfield School of Management.

Mr Julian Vella

Julian is currently the National Leader of the Infrastructure Projects Group with global advisory firm KPMG.

Julian has extensive experience as lead adviser on a range of commercial transactions, particularly in the transport sector. He has advised governments and corporations on infrastructure projects and financings, privatisations, corporate strategy and restructuring, debt restructuring, mergers and acquisitions, divestments and business valuations.

Major assignments include advising the Victorian Government on its public transport, freight and rail businesses. He has advised on several port infrastructure projects in Australia and overseas, and on transactions in the transport and logistics sector.

Julian has advised on several corporate restructurings, including the recent Nylex asset divestment program, debt reduction strategy and equity capital raising.

Ms Pauline Vamos

Pauline has been Chief Executive of the Association of Super Funds of Australia since September 2007.

Pauline has also served as a director of the Australian Securities and Investments Commission, and worked in the managed funds area of AMP.

Mr David Byrne

With over 20 years experience domestically and internationally, David leads a team of which manages ANZ’s relationships with private and public sector, utilities, infrastructure, Government, defence and higher education clients across Australia.

Prior to joining ANZ in 2010, David worked at BNP Paribas London where he was Head of Corporate Acquisition Finance NE&ME. Prior to this David worked for Deutsche Bank in Australia and UK and Pricewaterhouse Coopers in Ireland and Australia.

David holds a Bachelor of Commerce with Honours from University College in Dublin and a Masters of Applied Finance from Macquarie University. He is a Fellow of the Institute of Chartered Accountants in Ireland and a member of the Finance & Treasury Association.

Dr Paul Schreier

Paul is currently the Acting Deputy Secretary at Department of the Prime Minister and Cabinet.

Mr Brendan Lyon

Brendan Lyon is the Chief Executive Officer of Infrastructure Partnerships Australia (IPA) having joined the organisation in 2006, initially working in the organisation's policy team. He was later appointed to lead the organisation's media and government relations functions, then as the Executive Director in early 2008 and as Chief Executive in 2010.

Brendan has worked across government and business for more than a decade and is currently completing a Master of Business Administration (MBA). He serves as a Board Member of the Sydney Business School and was recently appointed to the steering committee of the Federal Government's study on High Speed Rail.