Australia New $10 Billion National Reconstruction Fund Corporation Appoints Macquarie Veteran Ivan Power as CEO, NRFC Provides Finance via Equity, Debt & Guarantees to 7 Priority Areas of Australia Economy in 1) Resources, 2) Agriculture, Forestry & Fisheries, 3) Transport, 4) Medical Science, 5) Renewables & Low Emissions Technologies, 6) Defence Capability & 7) Enabling Capabilities
1st February 2024 | Hong Kong
Australia new $10 billion (AUD 15 billion) National Reconstruction Fund Corporation (NRFC) has appointed Macquarie veteran Ivan Power as CEO starting in February 2024. The NRFC provides finance via equity, debt & guarantees to 7 priority areas of Australia economy in 1) resources, 2) agriculture, forestry & fisheries, 3) transport, 4) medical science, 5) renewables & low emissions technologies, 6) defence capability & 7) enabling capabilities. Announcement: “The Board of the National Reconstruction Fund Corporation (NRFC) has appointed Mr Ivan Power to lead the organisation as its inaugural Chief Executive Officer (CEO). Ivan brings extensive experience in finance, investment and capital markets, including through a successful 20-year career at Macquarie Group in Sydney and London. He has worked with early-stage Australian companies since 2019 as a direct investor and adviser. He has also advised Australian Government agencies, including the Commonwealth Treasury, the Department of Social Services and Housing Australia. He has served as chair or director of various social enterprises in both London and Sydney. Ivan is a graduate of the University of Technology Sydney, Macquarie University and London Business School. He is a member of the Chartered Accountants Australia & NZ and a qualified executive coach … … The Australian Government established the NRFC in 2023 to invest $15 billion to diversify and transform Australia’s industry and economy. The NRFC can provide finance in the form of debt, equity and guarantees across 7 priority areas of the Australian economy. Over time, we aim to have an impact across the economy, through investments that attract private sector finance into the priority areas and build Australia’s competitiveness. Ivan will begin the role in February 2024.”
“ Australia New $10 Billion National Reconstruction Fund Corporation Appoints Macquarie Veteran Ivan Power as CEO, NRFC Provides Finance via Equity, Debt & Guarantees to 7 Priority Areas of Australia Economy in 1) Resources, 2) Agriculture, Forestry & Fisheries, 3) Transport, 4) Medical Science, 5) Renewables & Low Emissions Technologies, 6) Defence Capability & 7) Enabling Capabilities “
Martijn Wilder AM, Chair of the National Reconstruction Fund Corporation: “After a comprehensive search process, I’m delighted that we have secured a CEO of Ivan’s calibre to lead and build the NRFC. Ivan has extensive experience in global investment and significant standing in the technology and financial markets in Australia. Ivan’s experience working with a broad range of companies, from start-ups to multinationals, and working with government gives Ivan a unique perspective on the ingenuity that exists within our industry base and how we might harness the opportunities on offer to benefit Australia. Ivan’s experience advising early-stage companies, on national infrastructure and Ivan’s passion for Australian industry will serve the NRFC well as we work alongside the Government and others to transform the Australian economy. I would like to extend my sincere gratitude to the NFRC team, led by acting CEO Rebecca Manen, who have worked tirelessly to establish the NRFC so quickly.”
Ivan Power, CEO of the National Reconstruction Fund Corporation: “I am humbled and excited to be asked to lead the NRFC. I thank the Board and the Government for the opportunity, and for the trust they are placing in me in this important role. Australia is blessed with incredible human, financial and natural resources that create abundant opportunities at this moment of significant technological, economic and geopolitical change. It’s a great time for the public and private sector to work together to support the growth and development of industries in Australia and capitalise upon these opportunities. I am looking forward to meeting with businesses, entrepreneurs, agencies, financiers and investors all over Australia to learn more about the opportunities and challenges they face and to understand where and how the NRFC can help make Australia the natural home of industry and innovation.”
Australia New $10 Billion National Reconstruction Fund Corporation Appoints Macquarie Veteran Ivan Power as CEO, NRFC Provides Finance via Equity, Debt & Guarantees to 7 Priority Areas of Australia Economy in 1) Resources, 2) Agriculture, Forestry & Fisheries, 3) Transport, 4) Medical Science, 5) Renewables & Low Emissions Technologies, 6) Defence Capability & 7) Enabling Capabilities
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