London-headquartered real estate investment manager M&G Real Estate has appointed Tony Brown as head of its global operations.
The role, previously called chief executive, was held by Alex Jeffrey who was promoted as head of M&G’s entire Asia-Pacific business in November last year.
Jeffrey, who will officially assume the leadership role this April after moving to Singapore from London, will be overseeing M&G’s regional real estate fund management business as well as the distribution business.
Brown was previously chief investment officer at the firm, a role which he held since 2014.
“I look forward to building upon our strong foundations as a major international real estate fund manager as we diversify and grow our activities whilst targeting exemplary investment performance,” he commented in a statement announcing his appointment.
Following Brown’s promotion, his former CIO role will now be split into two newly-created roles, PERE understands. Martin Towns will now become the head of UK commercial and capital solutions. In addition, the firm will be hiring a head of investment strategy to focus on research, property technology and new product innovation. Both these roles will report to Brown.
M&G has also announced the creation of a new role, of that of an executive chairman. Simon Pilcher, who until now was the chief executive of M&G’s institutional fixed income business, will take on this responsibility.