Australia’s Macquarie has appointed a new chief executive of its business in Europe, the Middle East and Africa (EMEA) which will take effect on 1 April next year.
David Fass, formerly CEO of the EMEA business, will take on a new role as co-head of Macquarie Infrastructure and Real Assets (MIRA) for the Americas. Macquarie said that there will be a transition period ahead of the leadership changes.
Paul Plewman will take on the role leading Macquarie’s business in the EMEA region, coordinating the firm’s activity and strategy, promoting cross-group collaboration and heading up external and regulatory engagement.
He has been with Macquarie for 14 years, overseeing the commodities and global markets business in EMEA for the past 11 years. As part of the promotion, Plewman will also become a member of the company’s management committee and report to Macquarie’s Group CEO, Shemara Wikramanayake.
The company said in a statement that under Fass’ leadership over the past seven years, Macquarie has seen record growth in the business, with its EMEA income totalling 29% of the Group’s total income for 2018.
“EMEA continues to be a hub for the Group’s global activities, from which both Macquarie’s infrastructure asset management business, MIRA, and its green principal investment business, the Green Investment Group are led,” Macquarie said.
“The EMEA business has £64 billion of assets under management, invested across businesses and assets which employ almost 50,000 people. As one of the largest investors in UK infrastructure in the past three years, Macquarie has led £15 billion of green investment into the UK alone.”