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Neil Griffiths-Lambeth is an Associate Managing Director in Moody’s Infrastructure Finance team, based in London, and responsible for the rating agency’s coverage of regulated and unregulated utilities across EMEA. Over the course of his career at Moody’s, Neil has acted as lead analyst for a broad range of utilities and transport infrastructure companies. He has followed the UK water sector since 2008, writing extensively on regulatory and other developments and playing a key role in developing the rating agency’s strong reputation in the sector. As an authoritative independent commentator, Neil is a frequent speaker at conferences and other events. Moody’s has a leading global Infrastructure Finance franchise, rating some US$2 trillion of corporate and project finance securities, representing more than 90% of all public bonds issued globally in the sector. 140 analytical sector staff cover more than 1,000 infrastructure issuers globally. Moody’s EMEA team of 50 specialists is responsible for rating around 416 issuers. The rating agency covers more than 11,000 corporate issuers and 135 sovereign nations. Prior to joining Moody’s in 2007, Neil spent 15 years at Lazard. Over this period he advised a broad range of clients on raising finance in the public and private markets. Notable transactions included advising the UK Government on support and funding for Network Rail, Veolia on the acquisition and highly-leveraged financing of Southern Water, and Wind Telecommunicazioni on funding for its network roll-out. Neil read Mathematics at the University of Sussex and pursued postgraduate research at Imperial College, London.
Emma Hardy was appointed Parliamentary Under-Secretary of State at the Department for Environment, Food and Rural Affairs on 9 July 2024. She was elected as the MP for Kingston upon Hull West and Haltemprice in July 2024.
Stefanie Voelz is a senior analyst in Moody’s EMEA Infrastructure Finance team, based in London. She is currently responsible for a portfolio of regulated utilities and infrastructure issuers in the United Kingdom. Over an extended career in credit, Stefanie has developed in-depth knowledge of utilities and transportation infrastructure sectors across Europe. She is also an expert in the credit assessment of highly-covenanted financing structures in the regulated utility space as well as project financings.
Stefanie is Moody’s lead analyst covering UK Water and has published extensively on the sector. She is the lead author of Moody’s Rating Methodology for Regulated Water Utilities, last updated in June 2018. Stefanie has also been one of Moody’s lead commentators on European regulated networks.
Prior to joining Moody’s in October 2004, Stefanie worked in the credit department of Bankgesellschaft Berlin AG (now Landesbank Berlin AG) in London and Berlin, where she held portfolio responsibility for project finance transactions in the energy and infrastructure sectors.
Stefanie holds a degree in business administration (Diplomkauffrau) from the University of Applied Sciences in Berlin.
Philip Duffy was appointed Chief Executive at the Environment Agency on 3 July 2023.
Previously Philip was Director-General, Growth and Productivity at HM Treasury.
Philip grew up in Slough, Berkshire. After university, he lived abroad for a while and joined the Civil Service in 2003. In 2006, he spent a year training with the French civil service. He has worked on a wide variety of subjects, from housing and the environment to community cohesion and immigration. In 2011 he became Director, Immigration and Border Policy at the Home Office, and in 2014 became Chief Operating Officer at the UK Border Force, managing customs, immigration and crime operations at the UK Border.
In 2017, he joined HM Treasury as Director, Enterprise and Growth, leading work on transport, productivity, the environment, business support and culture. He was promoted to Director-General in May 2020.
Rob Wilson was appointed as CCW Chair in June 2024 by Defra and Welsh Government. He first joined the ‘Water Watchdog’ as an independent Board member July 2018.
He is an experienced businessman, Chairman and Non-Executive Director across the private, public and charity sectors.
Rob currently serves as Chairman of disability sports charity, WheelPower, which supports disabled people into sport and owns the birthplace and home of the Paralympics movement at Stoke Mandeville Stadium. He is also deputy chairman of the Social Mobility Commission.
Rob has a wealth of consumer experience as he has also supported consumers in the transport sector with Transport Focus, the independent watchdog representing the interests of rail, tram, bus and coach passengers.
He is a former Member of Parliament and Minister and has published two books on politics.
David Henderson joined Water UK as Chief Executive Officer in February 2023.
His Government experience includes working as a special adviser in Australia and as an official in HM Treasury and 10 Downing Street. In the private sector, he has specialised in building and strengthening the reputations of large organisations, most recently at WPP and KPMG.
Ruth joined Wessex Water in 2016 after a legal career in London and Bristol, specialising in competition law issues across a broad range of sectors and clients.
With extensive experience dealing with legal, compliance and governance matters, Ruth previously held the positions of Chief Compliance Officer and Group General Counsel before being appointed as the Chief Executive in October 2024.
She was appointed to the board of Wessex Water Services Limited in September 2022 and is also a board member of our joint billing company, the West of England Local Enterprise Partnership and a local charity.
Russ Houlden is a seasoned CFO and NED with extensive experience in the water and telecommunications sectors.
In water, he was CFO of United Utilities from 2010 to 2020, helping to lead the company from a laggard to a top performer in the sector and from 2022 to 2025 he was an Operating Partner of Corsair, helping to start the turnaround of Yorkshire Water. In telecommunications, he was Finance Director of BT Wholesale in 1999-2002, CFO of Telecom New Zealand in 2008-10 and he has been Audit Committee Chairman of Orange Polska from 2014 to date.
In his early career he had 19 years of experience in a variety of roles in ICI in the chemical industry and in 2002-08 he was Finance Director of Lovells, a leading international law firm. He is a qualified accountant, a qualified corporate treasurer and an elite competition ballroom dancer.
Mark Caines is a managing partner at Flint Global and leads the company’s competition and regulatory practice. An economist by background, he advises corporates and investors on complex regulatory and policy developments and on competition matters, including major transactions. He works across a broad range of sectors but has a particular focus on infrastructure. Mark’s advice draws on over 30 years’ experience of regulation, competition and policy development. He brings a detailed knowledge of the underlying economic principles of regulation and policy, and a deep understanding of the way in which governments and agencies make decisions.
Neil Griffiths-Lambeth is an Associate Managing Director in Moody’s Infrastructure Finance team, based in London, and responsible for the rating agency’s coverage of regulated and unregulated utilities across EMEA. Over the course of his career at Moody’s, Neil has acted as lead analyst for a broad range of utilities and transport infrastructure companies. He has followed the UK water sector since 2008, writing extensively on regulatory and other developments and playing a key role in developing the rating agency’s strong reputation in the sector. As an authoritative independent commentator, Neil is a frequent speaker at conferences and other events. Moody’s has a leading global Infrastructure Finance franchise, rating some US$2 trillion of corporate and project finance securities, representing more than 90% of all public bonds issued globally in the sector. 140 analytical sector staff cover more than 1,000 infrastructure issuers globally. Moody’s EMEA team of 50 specialists is responsible for rating around 416 issuers. The rating agency covers more than 11,000 corporate issuers and 135 sovereign nations. Prior to joining Moody’s in 2007, Neil spent 15 years at Lazard. Over this period he advised a broad range of clients on raising finance in the public and private markets. Notable transactions included advising the UK Government on support and funding for Network Rail, Veolia on the acquisition and highly-leveraged financing of Southern Water, and Wind Telecommunicazioni on funding for its network roll-out. Neil read Mathematics at the University of Sussex and pursued postgraduate research at Imperial College, London.
Stefanie Voelz is a senior analyst in Moody’s EMEA Infrastructure Finance team, based in London. She is currently responsible for a portfolio of regulated utilities and infrastructure issuers in the United Kingdom. Over an extended career in credit, Stefanie has developed in-depth knowledge of utilities and transportation infrastructure sectors across Europe. She is also an expert in the credit assessment of highly-covenanted financing structures in the regulated utility space as well as project financings.
Stefanie is Moody’s lead analyst covering UK Water and has published extensively on the sector. She is the lead author of Moody’s Rating Methodology for Regulated Water Utilities, last updated in June 2018. Stefanie has also been one of Moody’s lead commentators on European regulated networks.
Prior to joining Moody’s in October 2004, Stefanie worked in the credit department of Bankgesellschaft Berlin AG (now Landesbank Berlin AG) in London and Berlin, where she held portfolio responsibility for project finance transactions in the energy and infrastructure sectors.
Stefanie holds a degree in business administration (Diplomkauffrau) from the University of Applied Sciences in Berlin.
Kim joined CKI in January 2018. He is responsible for the asset management of CKI’s infrastructure investments in the UK, including Northumbrian Water. The regulated companies serve over 36 million individuals across the UK from a c.£21 billion total regulated asset base.
Prior to CKI, Kim held various principal investment, corporate finance and proprietary trading roles including with the Abu Dhabi Investment Authority, UBS and Credit Suisse, in addition to founding his own infrastructure investment fund.
Peter is head of Energy and Utilities coverage at NatWest; prior to this role he worked in the Structured Finance and DCM teams for many years. He has covered the UK water sector, inter alia, since the turn of the century. Prior to banking, Peter worked as a corporate and litigation lawyer for the infrastructure and energy sectors.