B&B announces executive restructure
The top job at Babcock & Brown Infrastructure (BBI) will be handed over in August to Steve Boulton, the chief executive of Kiwi gas and electricity giant Powerco.
Boulton’s appointment ends a three year stint at the helm for current chief executive Chris Chapman.
In a new chief operations officer role, Chapman will take charge of operations of the wider Babcock & Brown business’ specialist funds management outfits, including BBI, B&B Capital, B&B Japan Trust, B&B Environmental Investments and B&B Global Partners. He will also stay on as a director of BBI.
Boulton is no stranger to the Australian infrastructure sector, having been chief executive at Queensland based Allgas Energy as well as holding past senior roles at electricity company Energex before he took on the chief executive role at Powerco.
BBI chairman Phil Green said Boulton’s knowledge and experience of the energy and infrastructure sectors made him an “ideal leader”.
Known as Prime Infrastructure Group until July 1 this year, BBI has about $4.5 billion in funds under management and holds ten assets across Australia, Europe and New Zealand, including the Dalrymple Bay Coal Terminal in North Queensland, the Ecogen power project in NSW’s Hunter Valley and recently purchased Irish national gas company Utility Grid Installations.
BBI acquired 53.65 per cent of the issued share capital of Powerco in late 2004.
Recommended for you
Shaw and Partners’ new national head of private wealth believes the biggest challenge for financial advisers right now is being able to deliver efficient advice delivery amid a complex regulatory environment and growing investment universe.
Global equity manager Orbis Investments has appointed a head of marketing from Capital Group as it becomes the latest manager to target advised retail investors.
While Australia prepares for the $3.5 trillion intergenerational wealth transfer, two female advisers have discussed why women may be detracted from seeking advice and the impact of the gender imbalance in the industry.
ETF provider Betashares has launched a global bond ETF as investors pour billions into cash and fixed income ETFs.
