New chief to boost public private partnerships
Partnerships UK, the government company that will replace the Treasury taskforce on public private partnerships, has appointed a chief executive designate.
James Stewart joins PUK in the £200,000 a year post from being head of project finance, Europe, at Newport Capital. Before that he was a Hambros Bankand SG.
Andrew Smith, chief secretary to the Treasury, said: ‘As chief executive desginate James has an opportunity to make a vital contribution to building Partnerships UK into a successful business and a world leader in PPPs.’
PUK comes into being as part of the Government Resource and Accounts Bill currently making its way through parliament.
The Treasury, which has up until now sponsored PPPs through a special taskforce, has long been criticised for not understanding private sector needs sufficiently.
PUK is expected to deliver a better, faster service and a stronger flow of good value for PPP deals.
Stewart’s first job will be to familiarise himself with the work of the taskforce and set about appointing other members of PUK’s management team.
Michael Gerrard, the present head of the Treasury’s Project Team has also received a new appointment and becomes executive director designate and head of PPPs at PUK.
Stewart said: ‘There is a lot to do to complete preparations for the launch ofPartnerships UK and the raising of private sector capital.’
PUK will itself be a PPP and will act as a co-sponsor of PFI and PPP projects with public sector authorities.