(May 15, 2013) -- The Abu Dhabi Investment Authority (ADIA) has named a top real assets expert from the banking world to lead its infrastructure program.
John McCarthy, a former Deutsche Bank managing director and global head of its infrastructure unit, will move into the position immediately.
The German bank announced his departure in early February, according to Bloomberg, after a shakeup of his division. McCarthy had championed selling Deutsche Bank's entire real estate and infrastructure investment to Guggenheim Partners. Senior executives rejected the deal, and McCarthy was replaced in a management overhaul.
Prior to Deutsche Bank, he served as global head of infrastructure capital and structured capital markets at ABN AMRO bank. He holds a post-graduate degree in finance from Australia's Monash University.
At ADIA, he will report to Majed Al Romaithi, the executive director of the real estate and infrastructure department, according to the sovereign wealth fund's announcement.
"John has a strong reputation as one of the most experienced investment professionals in the infrastructure sector," Al Romaithi said today. "His knowledge, proven leadership skills, and deep relationships across the industry will play an important role in further developing ADIA's strategy in the infrastructure space."
ADIA manages roughly $627 billion in assets, making it the second-largest sovereign wealth fund in the world.
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