ING Real Estate Investment Management (ING REIM) has appointed Denis Hickey as its new chief executive officer for Australia following the departure of Hugh Thompson.
The senior change was announced by the real estate investment management arm of Dutch banking and insurance giant ING today. Hickey, who joins from Sydney-listed Stockland Corporation, will be responsible for ING REIM’s $10 billion Australian fund management and development business.
He replaces Thompson, who is leaving to “pursue other opportunities”. Christophe Tanghe, head of strategy responsible for ING REIM in Australia and Canada, said the appointment of Hickey comes after Thompson had completed the task of securing “the future of ING’s funds in the face of historically tough market conditions”.
“This he has achieved,” Tanghe said, “as evidenced by the refinancing of the debt in a number of funds, most recently the ING Industrial Fund.” In a further effort to strengthen ING REIM’s Australian business, Tanghe and George Jautze, global chief executive officer will join its management board.
While at Stockland, Hickey had responsibility for the company’s development division. Before Stockland, he was a managing director at AV Jennings Homes, another Australian listed property company.
He said of his new role: “These have been challenging times for the real estate markets and this present a great opportunity for me. I have had the privilege of managing and growing Stockland's development business over the past nine years and now have the chance to continue the development of ING REIM's business in Australia.”