Savills IM moves CEO to Hong Kong HQ in Asia refocus amid global reshuffle
Savills Investment Management has announced a number of senior staff moves across its global operation with the company’s chairman and global chief executive relocating to Hong Kong to further drive expansion in the region.
The international real estate investment manager said that it has a number of appointments to its senior management team to “position the company for further global expansion”.
Savills IM said in a statement that the relocation of chairman and global CEO Justin O’Connor to Hong Kong was in “recognition of the importance of Asia Pacific” to Savills IM, and to “drive growth” in the region.
The company currently has five offices in the Asia Pacific region, classing the region as an “important part of the firm’s long term strategy”. The company hopes that this repositioning will build upon recent new business increases in recent years.
New Asia Pacific CEO role
As a result of the move O’Connor will also take the title of CEO Asia Pacific.
Other changes will see Nick Cooper, who joined Savills IM in January 2017 as a senior advisor, take the position of deputy chairman. He will also have oversight of Global Investor Services focusing on client relationships, especially the top global investors and consultants, Savills IM said
Giuseppe Oriani, currently head of Italy becomes CEO for Europe. He will lead the firm’s 13 office and 250 employee European platform.
“Our strong growth over the last five years, increasing from €4.2bn AuM and 8 offices in 2013 to over €16.6bn AuM and 18 offices today, has led us to broaden our senior management team to promote continued global expansion.
“These changes will allow us to further build on our strong global platform and I look forward to leading the next stage of the development of our business.”
UK and Germany heads
Other new head of country appointments have been made to continue driving Savills IM’s growth in the UK and Germany.
Harry de Ferry Foster, fund manager of the €1.4bn Charities Property Fund, and Jon Crossfield, head of strategic partnerships in Europe, have been appointed as co-heads for the UK in addition to their current responsibilities.
Carolina von Groddeck, who in recent years has been overseeing liquidation of the €6.8bn German SEB mutual funds, becomes head of Germany.
Savills IM said that it transacted €5.5bn in 2017, including €2.95bn of disposals and €2.55bn of acquisitions. The firm saw total activity of €4.5bn in Europe and €1bn in Asia. The company currently has more than 300 employees in 18 offices.