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Nick Riley announced a surprise exit from his leadership role at Investec Property Fund (IPF), having been at the helm for over three years.
Riley was promoted to a broader leadership role within Investec Bank, leaving According to the Investec Group, Riley became CEO of IPF in April 2015 and played a key role in many acquisitions for the group, including the purchase of an R7. A portfolio of 1 billion Zenprop and a Griffin industrial portfolio of R826m.
Andrew Wooler, chief financial officer of the fund, and Darryl Mayers, head of portfolio trading and development at Investec Property South African, will take the joint leadership of IPF. 19659002] IPF listed in 2011 with badets worth R1.7bn and the fund now owns badets worth R20.2bn.
"On behalf of the board, I would like to congratulate Nick for his promotion and thank Nick for his role played in leading the fun of over the past three years." The portfolio of direct badets and wallet portfolio. The investment that has been brought together allows the fund to continue to achieve its strategic objectives, "said Sam Hackner, president of the IPF
. He added that Riley would remain as non-executive director of the fund and that his new position would include ongoing responsibility. Evan Robins, the listed property manager of Old Mutual Investment Group's MacroSolutions boutique, said Riley's decision came too early and fund managers wanted more stability from management. company, the management company can move people around its interests, and not in the best interests of the fund, "said Robins
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