EUROPE - John Gellatly has left BlackRock as head of real estate fund of funds to join Aviva Investors' global multi-manager team in Europe.

Gellatly, who had been a managing director at BlackRock since 2005, will lead the European arm of a 20-strong global multi-manager team, which manages over £3bn (€3.34bn) in mandates.

Prior to joining BlackRock, Gellatly worked in the real estate investment banking team at Credit Suisse First Boston. He is also vice chair of the UK's Investment Property Forum.

"As real estate markets become increasingly attractively priced we believe there will be renewed interest in real estate investing and we will be extremely well placed to help clients achieve their plans," said Nick Mansley, global director of multi-manager at Aviva Investors.

At the same time, Gellatly said: "The current repricing of real estate markets offers a fantastic opportunity to build on Aviva Investors' success and to build global high performing portfolios for clients."