Property fund manager Hermes Real Estate has unveiled a series of management changes aimed at expanding its real estate activites. The group said it has appointed Steven Grahame as chief investment officer of the new Alternative business unit, which will focus on investment in real estate debt, equities and derivatives. Grahame joins from Watson Wyatt, where he was a senior investment consultant. He was also previously in the Multi Manager team at UBS.
Property fund manager Hermes Real Estate has unveiled a series of management changes aimed at expanding its real estate activites. The group said it has appointed Steven Grahame as chief investment officer of the new Alternative business unit, which will focus on investment in real estate debt, equities and derivatives. Grahame joins from Watson Wyatt, where he was a senior investment consultant. He was also previously in the Multi Manager team at UBS.
Additionally, Hermes Real Estate also announced the promotion of Tim Turnbull to chief iInvestment officer and Alasdair Evans to Chief Operating Officer.
Rupert Clarke, CEO of Hermes Fund Managers said: 'Steven will further enhance the Real Estate team's investment skills in real estate equities, debt and derivatives, which we believe will form an integral part of institutional real estate portfolios in the future.'
He added: 'I would also like to congratulate and thank Alasdair and Tim, who have effectively been fulfilling the roles of real estate COO and CIO respectively since August 2007 in extremely difficult market conditions and who have worked very well together. Steven complements the skills of the existing team of directors in Hermes Real Estate and together they offer a strong leadership platform to capitalise on growth opportunities over the next two or three years.'
