Media release

Tuesday, 6 August 2002 - MVT091

New EFIC Chairman Appointed

Trade Minister Mark Vaile today announced the appointment of Peter Young as Chairman of the Board of the Export Finance and Insurance Corporation (EFIC).

Mr Young, currently the Deputy Chairman of EFIC, replaces Ian Payne who has resigned after six years service as Chairman.

Mr Vaile said Mr Young is currently Executive Vice Chairman with ABN AMRO Group and has a strong export finance background and extensive experience in trade in Asia.

“As a senior executive with ABN AMRO, Peter Young has an extensive background in banking and trade finance in many of Australia’s key export markets and sectors. He will bring valuable skills to the role of Chairman, particularly his strong knowledge of banking products and trade facilitation,” Mr Vaile said.

“I am sure that under Mr Young’s leadership EFIC will continue to provide outstanding service to Australian exporters.”

Mr Vaile acknowledged the outstanding contribution made by Mr Payne during his six-year term as EFIC Chairman.

“Ian Payne served as Chairman during a particularly challenging time for EFIC. He was involved in the Government’s response to the Asian financial crisis and the implementation of the credit insurance alliance with NCM-Gerling.”

 

Media Contact: Mark Croxford, Parliament House, Canberra 2600 Ph: +61 2 6277 7420 Fx: +61 2 6273 4128

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Local Date: Friday, 05-Dec-2008 13:38:29 EST