Australian Unity Investments (AUI) has reorganised its property funds management team following the retirement of the head of property, Martin Hession, late last year.
AUI has appointed ex-head of diversified property funds Peter Lambden as head of property and asset management. He will be responsible for reviewing asset management activities and strategies for AUI's property funds, and streamlining property and asset management processes across the portfolio.
Taking over from Mr Lambden is ex-offer and industrial property funds head Mark Lumby. In his new role as head of property funds - retail and industrial - Mr Lumby will be responsible for AUI's unlisted property funds in the office, retail, and industrial sectors, as well as its two diversified property funds.
The new role will strengthen AUI's focus on the retail and intermediated market, where Mr Lumby will work closely with head of healthcare and retirement funds, Chris Smith.
AUI general manager of property, mortgages and capital markets Mark Pratt, said the changes further utilise the skills and experience of AUI's property team, and enhances business focus on key areas of future growth.
"Our property funds business has grown significantly over the last few years and we continue to see opportunities for expansion," Mr Pratt said.
"We are making these changes now to ensure we have the best possible expertise and knowledge to facilitate future growth and to take advantage of opportunities as they arise."
