31 March 2017
The Board of the Clean Energy Finance Corporation (CEFC) has appointed Ian Learmonth as its new Chief Executive Officer, to replace outgoing CEO Oliver Yates.
Mr Learmonth has a strong background in financial services, both in Australia and internationally. He has advised and invested on a range of large-scale infrastructure projects, including renewable energy technologies.
Mr Learmonth currently leads the Impact Investing team at Social Ventures Australia, which has a strong cross over with CEFC investment activities, particularly in the areas of energy efficient affordable housing and the built environment. He has also served as an independent member of the CEFC Executive Investment Committee for the past nine months.
CEFC Chair Ms Jillian Broadbent AO said: "The Board of the CEFC is delighted to welcome Ian as the new CEO. His diverse experience, demonstrated leadership and strategic thinking will serve the CEFC well in the next phase of our activities as we continue to deliver on our mission to catalyse new investment into the clean energy sector.
"This is an important time in the evolution of Australia's energy markets and indeed the CEFC. Clean energy is available at increasing scale and price competitiveness and significant new investment is required if we are to achieve the goal of a secure, affordable and sustainable energy system.
"With appropriate planning and coordination, including around strengthened transmission, demand management systems and storage capacity, we are confident Australia's energy mix can incorporate higher levels of clean energy."
Mr Learmonth said: "I look forward to leading the CEFC to fulfil its role in increasing the flows of finance into the clean energy sector and contributing to efforts to meet Australia's targeted reductions in CO2 emissions."
Ms Broadbent also paid tribute to outgoing CEO Oliver Yates, who advised the Board late last year of his decision to step down.
"As our inaugural CEO, Oliver built an effective investment platform with a high-quality team. We have an exciting pipeline of opportunities and have delivered a strong investment performance across a diverse portfolio covering over $3.3 billion in commitments. Oliver leaves with our sincere appreciation and we wish him every success for the future."
Mr Learmonth will join the CEFC on 15 May 2017.
Ian Learmonth will join the CEFC as Chief Executive Officer in May 2017, replacing inaugural CEO Oliver Yates.
Mr Learmonth has more than 20 years' experience as a financier and investor, working across clean energy and major infrastructure projects, as well as social impact investments. He has also served as an independent member of the CEFC Executive Investment Committee.
Mr Learmonth joined Social Ventures Australia (SVA) in 2011 to establish its Impact Investing team. He structured and launched Australia's first Social Impact Bond, established a dedicated Social and Affordable Housing fund with HESTA and has advised the New Zealand Government on its social bond program.
Previously an Executive Director of Macquarie Group for 12 years, Mr Learmonth has investment banking experience in Sydney, Hong Kong and London. He was involved in establishing and leading a number of business channels, including asset finance and direct investment, as well as providing corporate advice in the infrastructure sector. He established and led various businesses, notably renewable energy and carbon credit investments as well a cross-border structured finance and 'big ticket' leasing transactions. Earlier, Mr Learmonth established Macquarie's IT operating lease business and completed a number of securitisations for both Macquarie Bank and external clients.