New York, December, 2007 ’ Macquarie Capital, a global leader in investment development and financial and operational management of infrastructure, announces that Mr Robert (Rob) Scavone has agreed to join Macquarie as a Managing Director, effective January 2007.
Mr Scavone joins Macquarie from Ports America, Inc., where he was Executive Vice President and General Counsel, responsible for operating joint ventures and business development throughout the Americas and the Caribbean, and for Labor Relations, Industry and Government relations and Legal Affairs.
Mr Scavone has worked in the ports and shipping industry for 20 years and worked at the former P&O Ports North America (now Ports America) from 2001.
At Macquarie, Mr Scavone will be based in New York and be responsible for oversight of Macquarie’s existing portfolio of interests in North American ports, which includes Halterm Limited and Fraser Surrey Docks in Canada; and the TTI/Hanjin Terminals in Long Beach, Oakland and Seattle. Mr Scavone will also be responsible for overseeing the acquisition and integration of new ports in North America within the Macquarie Group of Companies.
Mr Scavone said: ‘Macquarie has been a leader and early mover in investing in ports, an asset class now enjoying attention from subsequent entrants to the market.’
‘This appointment is a terrific opportunity for me to be able to contribute to such a forward-looking enterprise.’
Mr Richard Timbs, Global Head of Macquarie Capital’s Port Sector Investments, welcomed Mr Scavone to Macquarie’s ports team. ‘Rob brings to Macquarie considerable experience in the ports sector, including that gained through his involvement on bodies such as the National Association of Waterfront Employers and the U.S. Maritime Alliance.’
‘Rob’s knowledge, experience and networks will complement the financial, commercial and operational skills already existing within the Macquarie ports team. The recruitment of senior people with proven industry experience is a continuation of our strategy of having industry and operational know-how in-house as part of the day to day team’ Mr Timbs said.
‘Rob’s appointment therefore represents another step in Macquarie’s ongoing commitment to ports, and in its continuing focus on developing a global capability in ports expertise.’