Long-time Macquarie executive Liam Stewart will succeed Todd Weintraub as chief financial officer (CFO) of Macquarie Infrastructure Corporation (MIC) on June 30, the New York-based infrastructure investment firm said in a statement.
Stewart has held several positions within Macquarie Group. Most recently, he served as asset director at MIC portfolio company Atlantic Aviation, a role he assumed in April 2014.
From 2009 to 2013, Stewart served as senior vice president and management partner at Global Tower Partners, a private real estate investment trust that owns and operates cellular communication towers, which Macquarie owned between 2007 and 2013.
Before joining Global Tower Partners, Stewart was a portfolio manager at Macquarie Bank, according to his LinkedIn profile. It is unclear why Weintraub is stepping down as chief financial officer, a role he has assumed since November 2008, three years after first joining the company.
“While I am enormously proud of what we have accomplished at MIC over the past decade, I’ve reached a point where I wish to move in a new career direction,” Weintraub said. “I’m leaving MIC confident in the ability of the team, the resilience of the processes and future of the enterprise generally.”
According to the statement, Weintraub will remain at the firm until December 31, 2015 “to assist the orderly transitioning of responsibilities to Stewart.” He will also continue to serve as a member on the boards of Atlantic Aviation and subsidiaries of International Matex Tank Terminals (IMTT), also an MIC portfolio company, “on an ongoing basis.”
Stewart will report to MIC chief executive James Hooke. The two men worked together before joining Macquarie in 2007 at Fairfax Media, an Australian media company.
“We are pleased that Liam has agreed to assume the role of chief financial officer of MIC,” Hooke said. “His experience with the broader infrastructure asset class, as well as his capital markets and transaction experience, will be particularly valuable to MIC as we continue to grow in our existing and potentially new businesses.”
In addition to Stewart’s appointment, MIC also announced the appointment of Robert Choi as MIC’s principal accounting officer. Choi has served as MIC’s controller and vice president of financial reporting since November 2008.
Based in New York, MIC owns, operates and invests in a diversified group of infrastructure businesses including a gas processing and distribution business, Hawaii Gas, Direct Energy, and MIC Solar. The firm also owns and operates Atlantic Aviation, an airport services business.