Press release: BSFI announces appointment of Chairman
03 July 2007
Professor Tony M Ridley has been appointed independent non-executive Chairman of Building Schools for the Future Investments LLP (BSFI), the central investment business of Building Schools for the Future (BSF). BSF is the Government’s capital investment programme to help transform education by rebuilding or renewing every secondary school in England.
BSFI is a joint venture between the Department for Children, Schools and Families (formerly the DfES) and Partnerships UK and invests alongside each local authority and their chosen private sector partner to establish Local Education Partnerships (LEPs) and the companies set up to deliver their initial Private Finance Initiative schemes.
BSFI works closely with Partnerships for Schools, the government agency set up by the DCSF and Partnerships UK to lead the delivery of the BSF programme. Professor Ridley will chair BSFI’s Management Board and Investment Committee, working with representatives from the DCSF and Partnerships UK.
Professor Ridley said of his appointment:
“As a Civil Engineer who has been involved in the development and financing of a variety of infrastructure projects, I welcome the opportunity to assist this critical programme of investment that will help transform education in every one of England’s secondary schools. I look forward to working closely with PfS, the DCSF and Local Government to this end”.
James Stewart, Chief Executive of Partnerships UK, said:
“Tony has experience in managing projects similar to BSF in scale and complexity. His leadership of BSFI, and his knowledge of strategic risk and investment management, will help us to support the delivery and management of BSF projects efficiently and effectively throughout the operational phase of schools.”
Michael Hearty, DCSF Finance Director, said:
“We are delighted that Tony is joining us as non-executive Chairman of BSFI. He brings with him a wealth of experience in project delivery, which will prove invaluable as the scope and value of investment in BSF increases.”
Tim Byles, speaking as Chief Executive of Partnerships for Schools said:
“Set up as an independent investment business, BSF Investments plays a central role in the delivery of BSF, investing alongside local authorities and private sector partners. These investments will make a real difference to the life chances of millions of young people and we very much welcome Tony’s appointment as non-executive Chairman at this important stage in the roll out of the programme across the country.”
Professor Ridley joins BSFI with significant experience of Board, Chair and senior service in public, private and professional sectors.
Tony has worked in the transport sector across the world, and held board positions at Hong Kong Mass Transit Railway Corporation, London Transport and Eurotunnel. In 2004/5 he was Senior Transport Advisor to the London 2012 Olympic bid.
Trained as a civil engineer at Newcastle University and Northwestern University, Illinois, Tony also has a PhD in Transportation Engineering from the University of California. During the late 1990s he was Head of the Dept of Civil Engineering at Imperial College London. He received a CBE in 1986.
Notes to Editors:
- Building Schools for the Future (BSF) is the largest ever schools capital investment programme. The aim is to rebuild or renew every one of England?s 3,500 state secondary schools during the 15-year lifetime of the programme.
- BSFI is a Limited Liability Partnership jointly funded by the DCSF and Partnerships UK. BSFI undertakes and manages the central investment in LEPs and their initial PFI projects, taking a minority stake in each one established, along with the local authority and their chosen private sector partner. Once a LEP has been established, BSFI sits on the LEP and PFI SPV boards to help facilitate the partnership between the public and private sectors. BSFI plays a pivotal role in ensuring that the LEP establishes itself on a proper footing and that the BSF programme objectives are achieved.
- Partnerships for Schools (PfS) is the delivery agency for BSF. PfS was established in April 2004 as a Non-Departmental Public Body (NDPB), and is operated and funded under a joint venture between DCSF and Partnerships UK. Michael Grabiner is the non-executive Chairman of PfS.
- BSFI works closely with PfS, although it is a separate entity and operates under its own governance regime.
- The BSFI team includes David Lindsay and Richard Hoile.
David Lindsay joined BSFI in July 2006 and leads all aspects of BSFI’s activities. Before joining BSFI David spent almost 10 years with Barclays where he was a founding member of the Barclays Private Equity Infrastructure Team. Prior to that he was a member of the Treasury’s Private Finance Panel Executive (the forerunner to PUK) where he was responsible for transport projects.
David is a Member of the Chartered Institute of Bankers in Scotland and holds a Masters Degree in Finance from the London Business School.
Richard Hoile joined BSFI in January 2007 as an Investment Director. He is involved in the negotiation and structuring of investments made by BSF Investments.
Before joining BSFI Richard was a Director at KPMG spearheading their private sector advisory business. Before that he spent nine years with one of the leading funders of the PFI initiative, leading the teams that funded transactions across a variety of sectors including Schools, Health and Infrastructure.
Richard graduated from the University of North Carolina at Chapel Hill, USA, and has an MBA from Cranfield University.
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