Hermes gets property chief

The pension fund manager of UK telecoms giant BT has appointed Chris Taylor as chief executive of real estate investment management

Hermes Fund Managers has appointed Chris Taylor as chief executive of its real estate investment management division.

The London-based company, which has £5.8 billion (€6.9 billion; $8.9 billion) of property assets and manages investments on behalf of the pension fund of telecoms giant BT, has been looking for a chief executive for months.

Taylor joins from Australian-based global fund manager, QIC, where he has been head of European Property for the past four years. Prior to that, he spent a year at HSBC Specialist Investments as head of European property and previously worked at UK insurer Prudential in its property investment division.

In a statement, Taylor said he saw “great potential to further grow the Hermes real estate business”.

The firm manages the Hermes Property Unit Trust, which was first established in 1967, as well as fellow British property-focussed vehicles, X-Leisure Unit Trust, and The UK Logistics Fund Unit Trust.

It is also believed to be an investor in Brockton Capital’s opportunistic real estate fund.