New Appointments to the EFIC Board

Deputy Prime Minister and Minister for Trade, Mark Vaile today announced a number of new appointments to the Board of the Export Finance and Insurance Corporation (EFIC) including the appointment of Howard Davies as Deputy Chairperson.

"Howard Davies has been a member of the EFIC Board since February 2002, and has extensive experience in the insurance industry," Mr Vaile said.

"I am confident Mr Davies will provide excellent support to the EFIC Board Chairperson, Peter Young, to ensure EFIC continues to provide world-class services for Australian exporters."

Mr Davies is the former Managing Director and Chairperson of the insurance broking business Bain Hogg Australia Ltd and is currently Chairman of IMC Associates Pty Ltd and a director and treasurer of the Fred Hollows Foundation.

Mr Davies replaces Ian Knop who has been reappointed as a member of the EFIC Board. Mr Knop is the Chairman of management consulting firm Profile Ray and Berndtson and is a member of the Austrade Board.

"Mr Knop's contribution during his four-year term as EFIC Deputy Chairperson was outstanding," Mr Vaile said.

"He served as Deputy Chairperson during a challenging time for EFIC, including the successful sale of EFIC's short-term credit insurance business. The experience and continuity of service that Mr Knop will bring as a board member will be useful in guiding EFIC in the coming years."

Mr Vaile also announced the appointment of Michael Carapiet and Anthony Sherlock as members of the EFIC Board.

Mr Carapiet has worked in the finance industry for many years and is currently an executive director within Macquarie Bank's Investment Banking Group. He brings considerable international project transaction experience to EFIC and a strong understanding of the infrastructure, utilities, telco and resources sectors.

Mr Sherlock is experienced in credit risk management and is a director of several publicly-listed companies including IBA Technologies Ltd, Sydney Aquarium Ltd and Equatorial Mining Ltd.

EFIC is Australia's export credit agency which assists Australian companies exporting and investing overseas by providing a range of competitive medium to long-term finance and insurance services.

Contacts: Richard Forbes 02 62 777420