LaSalle’s Europe MD to become CEO at Mirvac

Susan Lloyd-Hurwitz, LaSalle Investment Management’s European MD, is to become CEO and MD of Sydney-based developer and investor Mirvac Group. She replaces current CEO Nick Collinshaw.

Susan Lloyd-Hurwitz, LaSalle Investment Management’s European managing director, is quitting the firm to join Australia’s Mirvac Group as its next chief executive officer.

Lloyd-Hurwitz, 45, who was born in Australia is returning to the country to assume the role towards the end of the year.

She has been Europe managing director at Chicago-based LaSalle since March 2010 with responsibility for the operations of the company’s European business as well as its core property investment mandates and funds.

Her responsibilities at LaSalle will be assumed by current Europe chief executive officer Simon Marrisson. Paying tribute to Lloyd-Hurwitz, Marrison said: “I want to extend my personal thanks and well wishes to Sue. She has been an enormous contributor to LaSalle and she will be missed.”

Prior to joining LaSalle she held senior positions at Macquarie Group and LendLease, in Australia, the US and Europe.

Mirvac’s chairman James MacKenzie said current CEO Nick Collinshaw would be stepping down by agreement on 31 October. MacKenzie said: “When Nick was appointed chief executive officer in August 2008 he had a mandate to strengthen the group’s balance sheet and simplify the structure of what was an overly complex business. Nick has delivered on the group’s objectives and also established a clear strategy for Mirvac focused squarely on the group’s core activities.”

He added: “This has been an important chapter for Mirvac, but over the next few years the group has a different set of challenges. The board is keen to accelerate cultural change in the business, and wants to place even greater focus on the group’s communication with stakeholders. This needs to be achieved alongside continuing improved return on invested capital from the development division.”

The company added that Lloyd-Hurwitz would receive a total remuneration package worth $1.5 million a year including mandatory payments into Australia’s compulsory superannuation system.