Fund manager and property developer Dexus Property Group has restructured its senior management team.
The move follows Deutsche Bank selling its 50 per cent stake in the management company of Dexus last month.
However, Dexus will still have ties with Deutsche Bank’s investment arm, RREEF.
Dexus head of corporate, Paul Say, has been made responsible for the firm’s United States portfolio and maintaining relationships with RREEF in the US.
Head of unlisted funds, Mark Turner, will look after Dexus’ European portfolio and work with RREEF in Europe.
Former Lend Lease portfolio manager, John Swadling, has been hired as head of office investments.
Dexus has also promoted two employees to who will lead some of the firm’s property businesses.
Head of retail, Louise Martin, will be responsible for the firm’s office portfolio.
Senior asset and development manager, Jane Lloyd, will lead the company’s retail business.
Former Stockland general manager, Andrew Whiteside, will lead Dexus’ industrial arm.
“The appointments, which will occur progressively during the second quarter, are consistent with our commitment to promote from within our talent base and across our property sectors,” Dexus chief executive Victor Hoog Antink said.
Dexus manager for nine years, Ben Lehmann, has resigned to pursue other interests, Antink said.
The firm has over $15 billion in funds under management and has 250 properties in countries ranging from Australia, US, Canada and France.
Dexus’ shares rose by 6.5 cents or 4.29 per cent to close at $1.58 in trading yesterday.
