The global head of business development, distribution, research and strategy at AXA Real Estate Investment Managers, has resigned from his role.
Kiran Patel has decided to leave the real estate investment management arm of French insurance giant AXA after 11 years with the firm in order to “pursue new opportunities”. He leaves at the end of the year before when he will help “ensure a smooth transition” as the company amends its “structure”.
AXA REIM paid tribute to Patel’s efforts during his time with the firm which saw it and the industry “deeply transformed”, stating that he had been a “key contributor in growing AXA Real Estate’s asset base and clientele”. Today, AXA REIM manages approximately €40 billion of real estate assets worldwide.
Saying he was recognised for his views and strategic thinking, the firm said: “Since joining us, Kiran has been responsible for strengthening a number of key fundamentals in our business – in the creation and influencing of real estate investment strategies, the excellence of our research, the development and capital raising of real estate vehicles, and the expansion of the company into new business lines and geographical territories.”
Pierre Vaquier, chief executive of AXA REIM said: “I would like to thank him for his contribution and the success he has brought to AXA Real Estate. I have particularly appreciated his professionalism, business acumen and team spirit – in all circumstances – and wish him the best of success in his new endeavours.”
In the announcement, ex-Legal & General and CB Hillier Parker executive Patel returned the compliments but added: “I have come to a particular stage in my career which requires a change in direction. It is time for me to reflect and seek out alternative challenges/opportunities.”
News of Patel’s departure comes as AXA REIM promoted Sarah Leroy to global head of its legal department. Leroy will lead a team of 14 professionals and be responsible for handling any legal issues relating to the management of its real estate assets and commercial real estate loans, AXA said. She joined AXA REIM in 2003 and has held various roles at the firm, having previously worked for international law firms Jones Day and August & Debouzy.