The Board of Australia’s export credit agency, Export Finance & Insurance Corporation (EFIC) has appointed a new Managing Director and CEO.
Mr Andrew Hunter, a former Co-Head of Macquarie’s Financial Institutions Group in Australia, will join EFIC from July 29.
“Andrew brings a wealth of relevant knowledge and experience to the role and is excited to be joining EFIC, said EFIC Chairman, Andrew Mohl. “He has had a career spanning almost 23 years in financial services, with significant experience in offshore markets and in structuring credit transactions.”
Mr Hunter was Macquarie Group London Office Head and Head of Macquarie Group Europe from 2008-10. And previously, he was head of Macquarie’s corporate advisory business in London.
Before joining Macquarie as part of Macquarie’s acquisition of Banker’s Trust, he worked for BT for 10 years in credit and risk management, structured finance and debt origination.
Mr Hunter succeeds current Managing Director and CEO Angus Armour who, after 20 years at EFIC and 10 years as MD and CEO, informed the Board last year of his decision to hand over the reins.
Mr Armour has been appointed as Deputy Director General, Industry, Innovation, Hospitality and the Arts for the NSW Department of Trade & Investment, Regional Infrastructure & Services. He will leave EFIC on August 30 2013.
Over the past decade, EFIC has signed facilities totalling more than $5 billion, supporting over $22 billion of Australian exports to 65 countries from SMEs and large companies in a broad span of industries.
“EFIC has also been solidly profitable, making an average profit on the commercial account of $30 million a year and has returned more than $375 million in dividends to the Federal Government,” said Mr Mohl.
Mr Armour leaves EFIC as a sound, profitable, well-managed and well-governed institution.