The Export Finance & Insurance Corporation (EFIC) has announced that Andrew Hunter has been appointed at the agency's new managing director and CEO.
Hunter will step into the position on July 29.
EFIC's current chairman, Andrew Mohl, said "Andrew [Hunter] brings a wealth of relevant knowledge and experience to the role and is excited to be joining EFIC. He has had a career spanning almost 23 years in financial services, with significant experience in offshore markets and in structuring credit transactions".
Hunter was recently the co-head of Macquarie's financial institution group in Australia, and prior to that was head of the group's London office and of Macquarie Group Europe.
He replaces the current CEO Angus Armour, who has spent twenty years at EFIC; ten as the CEO.
Armour will step into the role of deputy director general, industry, innovation, hospitality and the arts for the NSW Department of Trade & Invesment, officially leaving EFIC on August 30.
The Board would like to thank Angus for his significant contribution to EFIC. Over the past decade, EFIC has signed facilities totalling more than $5 billion, supporting over $22 billion of Australian exports to 65 countries from SMEs and large companies in a broad span of industries. EFIC has also been solidly profitable, making an average profit on the commercial account of $30 million a year and has returned more than $375 million in dividends to the Federal Government,” Mohl said.