Pradera, the London-based real estate asset manager, has promoted managing director David Fletcher to the role of chief executive with a remit of extending the firm’s reach in the retail property market into new areas in Europe and Asia.
Fletcher, who will remain as a company director, joined Pradera in early 2002 and since then, the firm said, has been responsible for leading many of its most notable recent achievements, including the opening of asset management offices in Italy, the CEE region and Turkey. He also played a key role in the creation of the firm’s Pradera Central & Eastern Fund (PCEF) and a recent joint venture with Australian investment bank Macquarie to provide asset management services in Asia.
Fletcher joined Pradera as head of Italy, working from the firm’s Milan office. By 2005, he had been appointed as director of business development where he helped expand Pradera’s reach into Central and Eastern Europe, acquiring assets in Poland, Czech Republic and Romania, largely through the PCEF.
In 2008, Fletcher moved to the firm’s Hong Kong office and was promoted to chief executive of Pradera Asia until March 2011 when he was appointed as managing director.
Earlier this year, Pradera announced a minority investment by private wealth partnership, LJ Partnership. Speaking in April, Fletcher said the deal would supplement, but not compete, with the company’s historic institutional client base.
Colin Campbell, Pradera chairman, said: “David’s appointment marks the successful conclusion of the succession planning that began with the sale of Paul Whight’s shareholding in April 2015 and continued with the arrival of LJ Partnership as a significant minority shareholder at the end of May 2016.”
“David has been a loyal colleague over the past 15 years and a real pleasure to work with as part of the senior management team. I know that, under David’s day-to-day leadership, the prospects for the company and for the future performance we can deliver to our clients are in the very best hands.”