Lloyds hires PF2 brain as global infra chief

Geoffrey Spence, credited for creating the country’s National Infrastructure Plan and Guarantee scheme, joins as the UK lender undertakes a broader rejig of the unit.

Lloyds Bank has appointed Geoffrey Spence as its global head of infrastructure, resources and energy.

Based in London, Spence joins after a series of heavyweight infrastructure roles within the corporate and political realms.

He was most recently chief executive of Infrastructure UK, a position he took on in 2011 and assumed until the agency merged with Infrastructure and Projects Authority, a unit established last autumn by Treasury under the newly elected Conservative government.

His tenure saw him create the National Infrastructure Plan, oversee the launch of the UK Guarantee scheme and help establish PF2, a revamped version of the Private Finance Initiative framework.

Spence also was special adviser to the Chancellor of the Exchequer on financial stability between 2008 and 2010, the second major government-related role he took on after leading the country’s Private Finance unit between 2001 and 2004.

His corporate career otherwise includes senior positions within Allco, HSBC and Deutsche bank’s infrastructure teams.

Spence will succeed David Boran, global head of natural resources, who is to retire in May 2016 after 40 years at Lloyds. His hire also sees Guillaume Fleuti, current head of infrastructure and energy for the bank, change hats to become head of corporate debt for capital markets at the bank.