Balfour Beatty has made Anthony Rabin, its finance director, deputy chief executive.

Rabin (pictured) will look after infrastructure investment in the UK, Europe, South-east Asia and the US, including GMH, the recently bought US military accommodation firm. Rabin has been finance director since 2003. He will be replaced by Duncan Magrath, his deputy.

Ian Tyler, Balfour’s chief executive, said: “Anthony will handle the direction and development of our infrastructure investment business, which is a strategic priority.”

The news was welcomed in City circles. Andy Brown, an analyst at Panmure Gordon, said: “This news could be interpreted as Balfour Beatty recognising more should be done to promote PFI operations.”

Another analyst said the move made sense given that it was Rabin who set up the UK’s PFI/PPP businesses.