Treasury body Infrastructure UK (IUK) was facing an uncertain future this week after acting chief executive Andy Rose resigned.
Rose will move to financial adviser AgFe. He leaves behind a depleted IUK team after just seven months in the role.
Rose stepped in to look after the position vacated by James Stewart in December 2010. Stewart quit to join management consultant KPMG as chairman of its global infrastructure division.
A senior banking figure told NCE that IUK’s autonomy was now at stake.
“Effectively it will become part of the Treasury,” he said. “IUK no longer has any leadership, so reporting goes straight into civil servant [Treasury director general for public services] Andrew Hudson.
“It’s now lost Stewart and Rose along with a lot of key people. I don’t think it will wind down or close but without real leadership it is more difficult and it appears to not have autonomous authority”
“It’s now lost Stewart and Rose along with a lot of key people. I don’t think it will wind down or close but without real leadership it is more difficult and it appears to not have autonomous authority.”
ICE President Peter Hansford chairs IUK’s Infrastructure Stakeholder Steering Committee. He agreed that Rose must be replaced quickly.
“Andy’s departure raises the important question of who now is going to take the vital lead on infrastructure within the Treasury and give it the strong attention it needs.
“It must be someone who can command respect across our industry,” he said.