Media Releases → 2024

JOINT MEDIA RELEASE

Ivan Power announced as NRF CEO

SENATOR THE HON KATY GALLAGHER
Minister for Finance
Minister for Women
Minister for the Public Service
Senator for the ACT

THE HON ED HUSIC MP 

Minister for Industry and Science

Date: Thursday, 1 February 2024

Mr Ivan Power has been appointed as the Chief Executive Officer (CEO) of the National Reconstruction Fund Corporation (NRFC).

Mr Power has over 25 years’ experience in global investment and holds considerable experience working with early-stage companies and social ventures.

He spent over 20 years at Macquarie Group in Sydney and London and is also a Board Member of Generation Australia and former Board Member of Lifesavers with Pride and The Westmead Institute for Medical Research.

Mr Power has also worked with several governments and agencies, and gained experience creating productive links between government, business and non-government organisations.

Mr Power was appointed CEO by the independent NRFC Board, which makes decisions to provide finance to Australian-based investments in seven priority areas of the Australian economy.

The Government’s $15 billion National Reconstruction Fund Corporation was established late last year and is the biggest investment in growing Australia’s manufacturing capacity in living memory.

Appointment of Mr Power as NRFC CEO is another major milestone for the NRFC which will enable them to deliver on this important Government initiative.

With expertise drawn from across different corners of the country, the Board will ensure the NRF is a truly national fund with a national focus.

It will provide the high-calibre stewardship an investment of this size and importance demands.


Quotes attributable to Senator Katy Gallagher, Minister for Finance:

“We welcome the appointment of Mr Ivan Power as the CEO of the NRFC to help manage the $15 billion National Reconstruction Fund.

“Mr Power brings 25 years of experience to the NRFC and will help deliver a future made here in Australia.

“The NRF is getting on with the job of rebuilding Australian manufacturing and creating jobs.”


Quotes attributable to the Hon Ed Husic, Minister for Industry and Science:

“The NRF Board has made an outstanding choice in Ivan Power as the inaugural National Reconstruction Fund Corporation CEO and I congratulate him on his appointment.

“Our plan for a future made in Australia demands high-calibre stewardship of the $15 billion investment the NRF will make into growing our industrial muscle, and that is what Ivan’s extensive experience in financial markets and global investment brings.

“His appointment is another key step in scaling up the NRF to begin delivering on our commitment to build a strong and prosperous industrial base in this country.”

[ENDS]

Media Contact(s)

Minister Husic's office: 02 6277 7070