European fund manager Standard Life Investments has announced the appointment of David Paine to the position of new head of Property Investments. The initiative follows the decision by Alex Watt, managing director of SLI's Property Investments to take early retirement in November this year.
European fund manager Standard Life Investments has announced the appointment of David Paine to the position of new head of Property Investments. The initiative follows the decision by Alex Watt, managing director of SLI's Property Investments to take early retirement in November this year.
Paine, who will take up his role in the fall, has been with the company since 1982 and has over 28 years experience in the property investment industry.
'As part of Alex's senior leadership team he has played a significant role in the development of Standard Life Investments' global property portfolio', said Keith Skeoch, Chief Executive of SLI. 'He has played the major part in the development of our Property Investment business which is now ranked among the top three real estate managers in the UK and 18th globally', he added.
In the new position, Paine will cover a number of responsibilities including the oversight of a nine-strong team managing assets worth around £3.6 bn (EUR 4.3 bn), and the management of SLI's UK Shopping Centre Trust and UK Retail Park Trust.
