AMP Capital repositions its RE business
AMP Capital has announced a repositioning of its real estate business along specialist sectors, creating two new managing director roles for retail and logistics, while head of real estate funds Chris Judd will step down after 11 years in the role.
The managing directors would be accountable for fund, investment, property and development management for their specialist sectors.
Brett Williams, fund manager for the AMP Capital Diversified Property Fund (ADPF), has been appointed to one of the two newly-created roles and would be responsible for AMP Capital’s entire retail platform.
This included the shopping centres asset management platform as the wholesale pooled funds with retail exposure, the AMP Capital Shopping Centre Fund (ASCF) as well as ADFP.
Following this, Luke Briscoe would take on the second role as managing director, office and logistics. In his new role, he would be responsible for the office and logistics platform including the AMP Capital Wholesale Office Fund (AWOF) as well as the investment, property, leasing and development management functions, including some of real estate’s shared functions such sustainability, EWHS and asset technology.
At the same time, under the new business structure, the role of head of real estate funds management held by Judd would be ‘no longer required’. Judd, who worked at AMP Capital for the past 13 years including 11 in that role, would remain on hand during the transition and continue to work as director on Precint Properties until early 2020.
Other leadership changes would include Merran Edwards, who has been appointed to the new role of chief financial officer, real estate, and Kylie O’Connor whose role would shift from chief operating officer to be funds management focus.
Also, John Dynon was appointed new head of origination and capital, a role in which he would be accountable for sourcing new opportunities and placing capital for new and existing clients as well as overseeing the real estate transactions and distributions tams.
The firm’s global head of real estate, Carmel Hourigan, said: “I’m excited to announce the new structure of our real estate business, with the alignment of accountability across fund, investment, property and development management.
“It’s all about ensuring we continue to innovate to provide new opportunities relevant to our clients across the commercial real estate cycle,” she said.
The changes will take effect on 16 August and all the above roles would report to Hourigan.
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