Wates hires PPP specialist from rival developer

UK developer Wates Construction has appointed Stephen Beechey as group investment director to oversee the firm’s existing and future involvement in project finance and public-private partnership schemes.

Beechey, who was formerly head of the education sector at fellow UK developer Laing O’Rourke, has joined Wates Construction as group investment director.

He will have responsibility for supporting business units across Wates in the running and development of privately financed projects including public-private partnerships (PPPs).

In addition, according to a press release issued by Wates, he will be tasked with “investigating new potential project development and financing models for future use”.

As head of education at Laing O’Rourke, Beechey was heavily involved in the £55 billion (€66 billion; $83 billion) Building Schools for the Future programme of school refurbishment. The programme was recently axed by the UK’s coalition government, resulting in the cancellation of 715 projects.