Deutsche Asset Managementhas announced the head of DB Real Estate Mark Ford will retire due to ill-health, with former Westfield Holdings funds management head Victor Hoog Antink to fill his role.
Antink will start in November, with Ford to remain with the company until the end of the year to ensure business continuity through a smooth transition of the leadership role.
Deutsche Asset Management chief executive Ross Youngman says Ford’s decision to retire was a difficult one, but that both he and Ford believe Antink is the natural candidate for the role.
“Antink has had a great depth of experience and will add real value to our growing business. It will be a smooth transition,” Youngman says.
Deutsche says Antink has 22 years of property industry experience spanning listed and direct property as well as the property finance sectors.
In his eight years at Westfield Holdings he helped structure and establish the Westfield America Trust, which he managed over the ensuing seven years, and also managed the Westfield Trust over the past four years.
Deutsche says he has also played a role in the global property industry and in particular the Property Council of Australia, where he was recently appointed a director.
Youngman says Ford joined Deutsche in 1997 to generate new business for the property investments division and to establish and manage property trust products.
“Under his leadership, real estate funds under management increased from $3 billion to more than $9.5 billion for DB Real Estate in Australia,” he says.
