111/97
22 September 1997
TOP NOTCH TASKFORCE TO REINVIGORATE PFI
Paymaster General Geoffrey Robinson today welcomed the appointment of members of the Treasury's Project Taskforce, set up in response to the Malcolm Bates review of the PFI, saying:
"Today is an important step forward in harnessing private sector finance and expertise to fulfill the Government's determination to deliver high quality value for money projects in the public sector. "I am pleased to see such a range of talent and experience coming forward to contribute to achieving the immense benefits to be gained from good PFI and Public Private Partnerships.
"Previously the lack of concentrated expertise, a proliferation of unprioritised projects and constant reinvention of wheels used to stand in the way of success. The Taskforce is going to provide the assistance and impetus required to improve projects and deliver a sound basis for future business".
Eight individuals, all of whom will be full time public sector employees, will join the Taskforce for two years. Led by Adrian Montague, formerly of Dresdner Kleinwort Benson, they will play a crucial role in screening all significant PFI projects and help departments build up their PFI expertise. They will work inside the Treasury alongside its Policy team.
Malcolm Bates said:
"I was convinced that a small, highly skilled team of project - focused individuals inside the Treasury was vital to PFI success. But those people also had to command respect from Departments and the private sector alike. This team, whom I helped select from an impressive group of applicants, are all renowned in their own fields and bring with them a wide range of skills. They should do well."
Adrian Montague, the Taskforce Chief Executive, said:
"This is a really strong team of young Turks; they have the qualifications, the experience in PFI deals and, above all, the feel for what the private sector wants from the PFI to be a really effective bridge between the public and private sectors"
NOTES FOR EDITORS
1. The Government pledged immediately after the General Election that it would reinvigorate the PFI. It instituted a review, undertaken by Malcolm Bates, Chairman of the Pearl Group and Premier Farnell.
2. On 23 June the Government accepted in full the resulting 29 recommendations. At the heart of this was a new structure involving a central Treasury Taskforce combining projects and policy expertise.
3. The Taskforce will be based in the Treasury, where two teams dealing with policy and projects respectively will work together as a single unit. The Policy wing of the Taskforce is made up of Sanjay Ghosh, Ben Prynn, Tony Whitehead, Ken Brazier and Nick Crowther, under the continued leadership of Peter Wanless.
4. Members of the Projects wing of the Taskforce, headed by Adrian Montague, announced today are :
Martin Buck; aged 38. An experienced project manager, who spent nine years with Nicholls Associates. PFI credentials include work on the Docklands Light Railway Extension, Croydon Tramlink, and the London Underground Prestige Project.
Kate Cohen; aged 30. A former management consultant recruited from the Office of Passenger Rail Franchising, where she was Assistant Director. Responsible for franchising the Gatwick Express and Great Eastern Railways.
David Goldstone; aged 35. Recruited from Price Waterhouse, where he has over 10 years experience of working with the public sector. Had been on secondment to the Private Finance Panel Executive, and has experience of a variety of local authority PFI contracts, including Colfox School in Dorset.
David Lee; aged 31. A project finance lawyer, recruited from Allen and Overy. PFI credentials include work on the Bridgend, Lowdham Grange, Agecroft, Pucklechurch and Kilmarnock Prisons, the Docklands Light Rail Extension, and the Channel Tunnel Rail Link.
Fred Maroudas; aged 34. An project finance banker, recruited from Dresdner Kleinwort Benson. Has experience of arranging and advising on financings for PFI hospitals, roads, prisons, light rail and defence schemes, including South Bucks and Bromley hospitals, the M40 DBFO road, and the MOD Staff College.
Richard Powell; aged 28. Recruited from Johnson Controls; a specialist in facilities management. PFI experience includes the MOD Naval Recruitment and Training Agency, the Home Office Central London Estate, and the new British Embassy, Berlin.
Douglas Sutherland; aged 32. Recruited from a software development company, Interesource Ltd, where he is director/owner. He has a military background, and was previously with the Private Finance Panel Executive, where he was involved in structuring PFI property transactions, including the DSS estate in Longbenton.
5. The name of the eighth member, a banking expert, will be announced shortly.