AS the politics swirls around the Oakajee port project and its associated mine development, the appointment of a key player used to dealing with government makes a considerable amount of sense.
AS the politics swirls around the Oakajee port project and its associated mine development, the appointment of a key player used to dealing with government makes a considerable amount of sense.
Wayne Zekulich’s appointment as chief financial officer at Oakajee Port & Rail is the second time the infrastructure player has made a surprise move to recruit well-connected locals beyond the usual suspects.
The first time, clearly, was the appointment of CEO John Langoulant, who took on the role a year ago after a brief period cloaked in the private domain of Kerry Stokes’ Australian Capital Equity.
Mr Zekulich’s banking and finance skills will no doubt be useful as OP&R attempts to find more than $4 billion just for the port project, a task that is seen by outsiders as difficult despite the heavy involvement of Japanese giant Mitsubishi.
There are also dozens of major construction and procurement contracts that go with the infrastructure development.
Mr Langoulant said Mr Zekulich joined a strong team and brought not just banking skills but an intimate understanding of the bureaucracy, which was just as useful.
“I first met Wayne when we sold Alinta,” said Mr Langoulant, reflecting on the 1990s when he was the state’s under-treasurer, before he joined the private sector as CEO of the Chamber of Commerce and Industry WA.
“I need people who can understand government processes and can manage that.
“The current process is resetting time frames.
“People who don’t understand that must wonder why it all takes so long.”
Somewhat low-key in his approach, Mr Zekulich is widely known in Perth corporate circles, having been a leading local banker.
He leaves the Commonwealth Bank as executive vice-president WA, SA and NT – institutional bank and markets.
Before joining Commonwealth in 2006, Mr Zekulich was head of the Perth office of NM Rothschild & Sons for four years. Prior to Rothschild, he was at Deutsche Bank for five years as a director and head of Perth.
Mr Zekulich said he was attracted to the role as a chance to be directly involved in one of the state’s major projects, rather than assisting from the outside.
“As an adviser you rarely get the opportunity to build something,” he said.
Furthermore, Mr Zekulich was keen to be closer to the decision making point, which was more difficult when working for national and international firms based elsewhere.
“In a small management team you are actually a player rather than being a small part of something large.”
