I am pleased to announce the appointment of Mr Ahmed Fahour as interim Chief Executive Officer (CEO) of the Australian Business Investment Partnership (ABIP).
ABIP is the Government's partnership with the financial sector to provide liquidity support for viable commercial property assets in Australia. ABIP will support the assets of viable Australian businesses which, without financing, would be forced to retrench thousands of employees.
Mr Fahour is an experienced and talented executive with extensive financial sector expertise, and will be central to the successful establishment of this important partnership. He also brings a unique commercial skill set to this partnership, and I thank him for his commitment to public service at this important time.
As announced by the National Australia Bank this morning, Mr Fahour will depart his position with the bank and I am delighted he has taken up this offer.
Further announcements regarding ABIP structure and governance will be made shortly.
20 February 2009