LONDON, June 30, 2020 /PRNewswire/ -- Porterbrook today confirmed that Sir Adrian Montague will be joining the rail asset management company as Chairman of the Board on 1 July, 2020. Sir Adrian recently retired as Chairman of Aviva PLC and is currently Chairman of Cadent Gas, Manchester Airports Group, and TheCityUK Leadership Council.
Sir Adrian brings over four decades of experience across transport, infrastructure, and financial services, having previously served as Deputy Chairman of Railtrack and Chairman of Cross London Rail Links, the precursor to Crossrail. In addition, he has also served in government roles including Chief Executive of the Treasury Taskforce, Deputy Chairman of Partnerships UK plc and Deputy Chairman of the UK Green Investment Bank.
Mary Grant, CEO of Porterbrook said: "I am delighted that Sir Adrian Montague is joining Porterbrook. The company and Board will benefit enormously from his invaluable experience of UK rail and infrastructure investment. This is an exciting time for our business, and I look forward to working closely with Adrian."
Sir Adrian added: "Porterbrook has ambitious plans for the coming years, particularly its vision of adding value across the whole lifecycle of trains, and the innovative projects underway to decarbonise the railway. These initiatives are vital at this critical time, and I am keen to play my part in ensuring Porterbrook delivers for its customers, stakeholders and the traveling public."
- Porterbrook Leasing Company Limited ("Porterbrook") is a leading participant in the rail leasing market and has a rolling stock fleet of almost 4,500 vehicles.
- Since privatisation, Porterbrook has invested over £3bn in the UK rail market. The company is looking to invest more than £1bn in Britain's railway over the coming years.
- We have successfully introduced over 2,500 new vehicles into passenger service.
- Porterbrook also spends £3m each week on its existing fleets, supporting almost 7,000 jobs in the UK supply chain.
- In October 2014, the Porterbrook Group of companies was acquired by a consortium of investors including Alberta Investment Management Corporation ("AIMCo"), Allianz Capital Partners ("ACP") on behalf of certain insurance companies of the Allianz Group, EDF Invest and a consortium of Utilities Trust of Australia ("UTA"), The Infrastructure Fund ("TIF") and Royal Bank of Scotland Group Pension Fund ("RBS").