REAL ESTATE - Morley Fund Managers has hired three new fund managers for its life UK real estate team.
Barry Hill, Justin Brand and Henry Richardson replace three fund managers promoted internally.
Hill, who joins from Arlington Property Investors, will specialise in out-of-town retail and leisure. Former Lasalle fund manager Brand will manage Morley’s UK industrial holdings. Richardson, from Jones Lang Lasalle, will manage office holdings.
The hires coincided with first-quarter inflows of £2bn (€2.93bn) into Morley’s real estate funds. “The growth of our funds under management resulted in new opportunities within the business,” said Richard Jones, head of Morley’s Aviva life team.
He said the new hires will effectively carry on where their predecessors left off, with the aggressive management of stock brought in by new developments and via acquisitions.
He cited as strengths the new hires’ extensive knowledge of specific sectors, significant experience and diversity of background. “It’s always good to get people with different backgrounds. Henry has an agency background, for instance, and Barry joined us from one of our competitors.”
Richardson replaces Claire Clarke, who is now assistant fund manager on Morley’s retail warehouse fund. Brand replaces Mike Green, who is now working on its European fund, primarily on Central and Eastern Europe. Hill replaces Jeannie Lane.