UBS Global Asset Management has appointed Robert Houston as chairman of the investment committee for three UK funds.
The former chairman and chief executive of ING Real Estate Investment Management was named today as chairman designate for the UBS Triton Property Fund, UBS South East Recovery Fund and UBS Secure Income Property Fund.
The news follows the establishment by Houston of consultancy, St Bride’s Strategic Advisers, having left ING this summer.
In a statement, UBS said Houston had joined UBS Global Asset Management on November 2 as senior adviser to the Global Real Estate – UK team, and would take over the role of chairman of the investment committee from Cliff Hawkins who is stepping down. Hawkins is currently chairman of the UK business, but is leaving UBS Global Asset Management in March 2010. He has been involved in the UK real estate business from its inception in 1991 and managed the business for more than 10 years until June 2009.
A number of key staff have recently left UBS. Most recently, Charles Crowe, Paul Dennis-Jones and Andrew Grigson, decamped to Pramerica Real Estate Investors, which wants to introduce a series of UK property funds.