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Kennedy out, Treacy in at Valad Europe

Valad Europe has replaced Kennedy Wilson-bound CFO Fraser Kennedy with its head of tax and risk, Claire Treacy.

Claire Treacy, Valad Europe’s head of tax and risk, has been promoted to chief financial officer replacing Fraser Kennedy who has left the London-headquartered real estate investment manager to join Kennedy Wilson Europe.

In her new role Treacy will be responsible for Valad Europe’s corporate finance functions, debt origination and ongoing management of the company’s finance operations across Europe. Prior to this promotion she spent 10 years as head of tax and risk at Valad.

Treacy replaces the outgoing CFO Kennedy who has left the firm to join the London-listed real estate investor Kennedy Wilson Europe. Kennedy joins as head of finance to lead the firm’s 19 strong finance team.

Kennedy spent the past eight years at Valad, the last five of which as CFO for Europe. Prior to this, Kennedy worked at Legal & General Investment Management and accounting and tax advisory firm Haysmacintyre.

Since its listing in February 2014, Kennedy Wilson Europe’s team has grown to around 80 people located in London, Dublin, Madrid and Jersey to support its £2 billion (€2.9 billion; $3.12 billion) property portfolio.

Valad Europe manages €5.3 billion of real estate assets and investment capacity in its 24 funds and mandates in Europe. The firm totals 180 people across 22 offices and 13 European countries.