Justin Brown, head of EMEA Real Estate and responsible for the equity funds at BlackRock, is leaving the company after nearly 10 years.
The executive told contacts on Tuesday that he had decided to take a break from the industry, and that Covid-19 played a part.
He said: ‘I leave behind a great team. I hope they build on a culture that is based on collective ownership and emotional support. The pandemic accelerated many things. For me, it highlighted that I want to explore a change in direction while I have the energy. I don’t know precisely which road that will lead me down, but I am both excited and a little nervous.’
Brown joined BlackRock in September 2012 from UBS Global Asset Management where he stayed for five years. Prior to that he was with LaSalle Investment Management.
Paul Tebbit will succeed Brown as head of EMEA Real Estate.
The company said: 'We are pleased to confirm that Paul Tebbit, CIO for BlackRock EMEA Real Estate, will succeed Justin Brown as Head of EMEA Real Estate. As CIO, Paul’s deep portfolio and team knowledge assures continuity and helps us to constantly enhance our capabilities as we seek to deliver the strongest outcomes for our clients. After 10 years with BlackRock, Justin is looking to make a change of career, he leaves in place a well-structured and high performing team and we wish him the very best for his new path.'
