Former NSW premier Mike Baird tipped for IFM post

Former NSW premier Mike Baird Picture: Britta Campion

Speculation is mounting about what could be the next move for the former NSW premier and current NAB executive Mike Baird, with speculation IFM Investors is in his sights.

IFM Investors chief executive Brett Himbury announced his retirement in September and some believe Mr Baird is a contender for the position.

Mr Himbury was due last month to depart IFM Investors, a major local and international fund with $148bn under management.

Like Mr Himbury, Mr Baird is also a former investment banker.

Some believed that he could have been in line to take the top job at NAB after the departure of chief executive Andrew Thorburn last year, but instead Ross McEwan took over the position.

Should Mr Baird secure the top job at IFM Investors, he would have all the experience needed when it comes to weighing up major acquisitions in the infrastructure space.

As the NSW premier, Mr Baird oversaw the partial privatisation of the state’s electricity distribution network and the construction of the $16.8bn WestConnex Sydney motorway project, a stake of which has since been sold to a Transurban-backed consortium.

IFM was one of the buyers of the NSW electricity distribution assets on offer, Ausgrid. If Mr Baird left NAB, where he is currently head of retail banking, it would result in another search being launched for a top banking executive, with the Westpac board currently searching for a new chief executive following Brian Hartzer’s departure late last year.

One left-field possibility for the Westpac role could be Elmer Funke Kupper, according to some market analysts.

Mr Funke Kupper previously ran Tabcorp and the ASX and is currently a director of accounting software company MYOB.