Ex-Macquarie banker to head $10b green fund
Former Macquarie Group banker Oliver Yates has been appointed head of Labor's $10 billion green investment bank.
The Clean Energy Finance Corporation's (CEFC) board announced Mr Yates' appointment as the organisation's inaugural chief executive on Sunday.
"Mr Yates brings a wealth of experience to the organisation and will be instrumental in preparing the CEFC to begin investing from 1 July 2013," the organisation said in a statement.
The CEFC will support renewable and low-emission energy projects through loans, guarantees and equity investments as part of the government's carbon price package.
Treasurer Wayne Swan said Mr Yates would oversee the body as it works with the private sector to invest in businesses seeking funds to get innovative clean-energy technologies off the ground.
"I welcome Mr Yates and the role he'll play as Australia transitions to a clean energy future," Mr Swan said in his weekly economic note.