Strategic Investment Board name new Chief Executive

Chairman of the Strategic Investment Board (SIB) Limited in Northern Ireland, Tony Watson, has announced the appointment of Mr David Gavaghan as its new Chief Executive Officer.

Mr Gavaghan, who is currently a senior member of the team at David Wylde Project Finance Limited, will take up his post on July 19, replacing current acting Chief Executive, Mr Andy Carty.

Welcoming Mr Gavaghan's appointment, Finance Minister Ian Pearson said: "Attracting people of the highest quality and expertise to the Strategic Investment Board, has always been our aim. David Gavaghan brings with him a wide range of talent, ability and expertise and I am confident that he will provide the necessary leadership to build upon and accelerate the work of the Strategic Investment Board. I wish him well in his new position."

Paying tribute to outgoing Acting Chief Executive, Andy Carty, the Minister said: "I would wish to put on record, my sincere thanks to Andy Carty for the tremendous work he has done. Under his skilled leadership, the initial team of strategic advisers have worked hard to help deliver the better standard of public services that we all deserve. As Andy moves back to his parent company, he can do so in the knowledge that his legacy here is an organisation that is set to make Northern Ireland a better place in which to live in the future."

Thanking Andy Carty for his contribution, SIB Chairman, Tony Watson, said that SIB was emerging from the set-up phase and he was confident that Mr Gavaghan would build on, and extend, the progress that had been made.

Mr Gavaghan said he was looking forward to working with the team and its stakeholders: "The SIB has already established a sound platform that will enable a major investment programme in Northern Ireland's infrastructure; together with the team and our partners, I look forward to delivering these projects in the coming years."

Born in Kenya and educated at Blackrock College, David Gavaghan read Economics and Social Sciences at Trinity College, Dublin, and is an Associate of the Chartered Institute of Bankers.

With extensive experience in project finance, over the past five years at David Wylde Project Finance (DWPF), he has been involved in arranging funding for projects, including PFI/PPP projects.

Prior to joining DWPF, he was Head of Transport at SG Hambros. Previously he was a Director of Hambros Bank.

(SP)