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Executive changes as Porterbrook restructures its business

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Stefan Rose, Porterbrook.

Rolling stock owner and asset manager Porterbrook is restructuring its business to meet the needs of its customers, now and in the future.

From 1 April 2021, the current head of structured finance, Stefan Rose, will take up the new position of chief investment officer while chief commercial officer Stephen McGurk will become chief portfolio officer.  Both roles will report directly to Porterbrook chief executive officer Mary Grant.

In his new role, Stefan will lead a dedicated team focusing on new and re-leasing passenger, freight and infrastructure business opportunities, supported by his existing structured finance and pricing teams.

Stephen McGurk, Porterbrook.

Meanwhile, Stephen’s focus will be on supporting Porterbrook’s existing customers, who lease more than 4,000 rail vehicles from the business. His team will continue to develop and support the growing portfolio of rolling stock decarbonisation innovations, projects and customer partnerships.

Porterbrook has been at the heart of the UK rail network for over 25 years and currently owns almost a third of the national passenger rail fleet. Since privatisation, it has invested £3 billion in 2,500 new passenger and freight vehicles, and is aiming to invest over £1 billion in UK rail over the coming years.

Mary Grant, Porterbrook.

Announcing the changes, Mary Grant said: “As we head out of lockdown and prepare for a new industry structure, I want Porterbrook to be relentless in focusing on the needs of our existing and future customers.

“Both roles will ensure that we are best positioned to meet government ambitions for the UK railway and support the Green Recovery.

“I congratulate both Stefan and Stephen as they prepare to meet these exciting challenges ahead”.

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