LaSalle and AXA REIM Europe bosses to join British Land

Co-head of Europe Charles Maudsley is joining UK REIT British Land. Meanwhile, Axa Real Estate Investment Management's global head of asset management Stephen Smith is also joining the London-based company.

Charles Maudsley, co-head of Europe at Chicago-headquartered LaSalle Investment Management is to join London-listed property company British Land. The REIT also announced today that Stephen Smith, global head of asset management at Axa Real Estate Investment Management, is joining as chief investment officer and executive director.

Both will join in the new year.

The change at LaSalle means that fellow co-head Simon Marrison will assume sole responsibility over LaSalle’s European platform after Maudsley leaves to become director of business expansion at the FTSE 100 firm.

Maudsley’s move will be the second senior executive departure from LaSalle’s European business following global chief executive officer Jeff Jacobson’s decision to relocate from London to the firm’s Singapore office in August. Jacobson completes his move in January, however he will remain actively involved with LaSalle's European investment committees.

While most of LaSalle’s uncommitted equity lies in Asia, the firm’s European platform, which employs more than 240 staff, has approximately $1.5 million of equity earmarked for the continent.

Jacobson said on Maudsley’s departure: “His new role (at British Land) will allow him to concentrate his efforts and talents exclusively on investing in the UK market in contrast to some of the broader fund raising, investor relations, and general management responsibilities that were part of his current role.”

Maudsley worked for AXA Real Estate Investment Management Europe until 1998 when he joined LaSalle. He has also managed the AXA Sun Life property portfolio and prior to that, worked for property services firm DTZ.

Maudsley described his new role as a “unique opportunity” and said he was keen to reunite with AXA REIM Europe boss Stephen Smith, who also joined British Land from the real estate arm of insurer, AXA. Smith is to join the company after spending the best part of ten years with AXA REIM. Prior to that, Smith worked for SUN Life Properties for five years.