Christopher Heathcote has been appointed as the first chief executive officer (CEO) of the Global Infrastructure Hub in Sydney, a structure put in place in November last year to help unlock $2 trillion in investment and operating under G20 supervision.
The hub, an information sharing platform chaired by Secretary to the Australian Treasury John Fraser and launched last year in the context of the Australia-hosted G20 summit, will now collaborate with the private sector, development banks and international organisations to help push forward the group's infrastructure agenda.
The institution, initiated by Prime Minister Tony Abbott, has ambitions to lift global growth by two per cent by 2018.
Reporting to the G20, the management of the hub will work with stakeholders around the globe to ensure more effective provision of best practice information to G20 and non-G20 governments and address gaps in knowledge and data.
Prior to his role, Heathcote has worked at senior levels in both the private and public sector in the UK and Australia, gaining experience in policy and regulation as well as advisory in various banks, among which his most recent position as divisional director at Macquarie Infrastructure and Real Assets.
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.
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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