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BAA appoints director of treasury

Fred Maroudas has been appointed as director of treasury at the Competition Commission beset UK-based airport operator BAA.

According to Construction News’ sister title Infrastructure Journal Mr Maroudas brings to the position a wealth of experience gained across the infrastructure arena.

His career started as a lawyer at Lovells leaving there to switch to banking at BZW - which later became Barclays Capital.

Mr Maroudas’ first banking job at BZW was followed by a role at Dresdner Kleinwort.

From banking, he shifted to Government where he worked on the Treasury Taskforce - later to become Partnerships UK - before moving to Railtrack shortly before its demise.

Mr Maroudas left Railtrack in January 2002 to take on a role at the group what was to become Network Rail where he rose to the position of director of funding.

Infrastructure Journal editor Angus Melville said: “This latest progression in Fred’s career is an interesting move and will have many people looking into its implications as BAA goes through the far from comfortable process of selling off assets at the behest of the Competition Commission.

“It is horribly apparent that BAA has been crying out for a money man - and that is most certainly what they have got by taking on Fred.

“This, of course, will lead to a fair amount of speculation over what BAA plans to do in the coming months as the Gatwick sale continues and the Ferrovial-owned group tries to wheedle its way out of selling Stansted and one of its Scottish airports - widely expected to be Glasgow rather than Edinburgh.”

BAA has long complained that it is unfair to force the sale of major pieces of infrastructure in a bad market and hopes to sway the Competition Commission by bringing Gatwick to market voluntarily.