Mervyn Howard, a long-serving senior executive at Grosvenor Fund Management, is to leave the business after it was determined his role was “no longer appropriate for the business’ needs.”
In a statement, the real estate investment management business of London-based property company Grosvenor said Howard would bring down the curtain on his 12-year tenure at the firm at the end of the month. He is yet to take another role, but it is understood that he is keen to remain within the private real estate investment sector and would consider both principal investment and advisory positions.
Howard was well known for leading Grosvenor Fund Management’s UK business. However, when it was merged with the firm’s European business last year, he took on the role of managing director for corporate development and was charged with expanding the platform into new arenas.
The role was created when Jeffrey Weingarten was the chief executive officer of Grosvenor Fund Management, but he has since handed over the leadership of the platform to James Raynor. That change brought with it a focus on existing business, and that has led to the cessation of Howard’s role.
“As the business has evolved during the course of the year, it has become evident to both James and I that, although well intentioned, the corporate development role is no longer appropriate for the business’ needs,” Howard said. “I have enjoyed my time at Grosvenor and am now looking forward to moving onto the next stage of my career.”
Raynor added: “Mervyn has played an important role within Grosvenor Fund Management since joining in 2001 and has been a valued colleague. He led the UK business for many years, has been a very active board and investment committee member and has led our significant advances in sustainability. We wish him well in his future endeavours.”