Arbuthnot Banking Group, the London listed banking and financial services group, has hired UBS real estate managing director Richard Tanner to lead its charge into the UK property sector.
The London based AiM-listed group, which also operates wealth management and investment banking businesses, said Tanner was to join the firm on 28 September.
Henry Angest, chairman and chief executive of Arbuthnot Banking Group, said: “We believe this is an exciting opportunity and exemplifies Arbuthnot’s approach of investing in contra-cyclical opportunities.”
Tanner joins Arbuthnot after 15 years at UBS where he was instrumental in launching a number of UK real estate funds.
Tanner told PERE that Arbuthnot would initially focus on areas of the market that were “value based” and targeting “long-term income”, rather than just opportunity funds. Tanner though said he would grow a team to service the platform after he began his role.
He added the platform hoped to raise funds from a wide spectrum of investors and would not channel its focus towards one particular resource.
Tanner revealed he was lured by the opportunity of moving from a business with a global perspective to one with a more “boutique” culture at this point of his career. He explained: “There will never be a downturn like this downturn in my career so this was an opportune time for me to join.”
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