Former Ofwat Chief Executive Joins BRG

BRG today announces the arrival of David Black as a managing director in the firm’s European Economic Regulation practice, marking the latest in a series of senior additions to BRG’s offering in Europe, the Middle East and Africa (EMEA).

Based in London, Mr. Black brings significant experience in regulated industries across the water, energy and communications sectors. He has worked as both a regulator and advisor to companies and investors. He spent over a decade at the UK water regulator Ofwat, most recently as its chief executive, where he led the regulator through a challenging external environment—including COVID—and helped secure new powers and broader regulatory tools. He also spearheaded the transformation of the sector through Ofwat’s 2024 price review and delivered the first Direct Procurement for Customers model, enabling third-party involvement in infrastructure development.

Mr. Black was also chief executive of the UK Regulators Network, leading the approach of regulators to the government’s agenda focused on economic growth. He was chair of the Regulators’ Alliance for Progressing Infrastructure Development (RAPID). Prior to these roles, he was an economist in the energy and communications sectors, working for regulators and as an advisor to companies and regulators on network regulation.

At BRG, Mr. Black will advise firms and investors across regulated industries as they navigate shifting regulatory frameworks, the transition to net zero and broader environmental challenges and technology change, including the financing and delivery of major infrastructure projects globally.

Commenting on his arrival, Mr. Black said: “Joining BRG’s rapidly growing Economic Regulation practice offers an exceptional opportunity to contribute to some of the most significant matters across EMEA. Corporates and investors face increasingly complex environmental, operational, technological and regulatory challenges today which demand deep sector insight and rigorous, nuanced analysis. This is precisely the approach that BRG brings to clients and that strongly aligns with my own experience and values”.

Colm Gibson, a managing director in BRG’s London office and regulatory economics expert, added: “With new policies and regulatory frameworks on the horizon such as upcoming price reviews and controls, David’s extensive experience at the intersection of regulated businesses, regulators and policymakers comes at exactly the right time for our practice. We’re delighted to welcome him to BRG and look forward to working with him on some of the most pressing matters across this space”.

BRG Vice Chairman Dr. David Sunding said: “David’s arrival represents a significant strategic enhancement to our European Economic Regulation practice. His specialist insights drawn from decades working as a regulator and advisor strengthen our ability to support clients operating in dynamic and highly regulated sectors as they navigate the shifting regulatory landscape”.

The BRG team in London also includes Alena Kozakova, an Ofgem nonexecutive director and former Ofwat chief economist who joined the firm following BRG’s acquisition of the European economic consultancy E.CA Economics in April.