UBS Global Asset Management’s real estate business has made changes in the UK following recent departures.
Cliff Hawkins has been appointed chairman having headed the UK business for about 11 years. He will be focusing on client service and investment matters by reducing his involvement in day-to-day business management, said UBS in a statement.
Meanwhile, Anthony Shayle has joined from AXA Real Estate Investment Managers (AXA REIM) to assume Hawkins’ previous position. He reports directly to Paul Marcuse, head of global real estate, who is himself a former AXA REIM professional. Marcuse joined UBS in 2007 having been chief executive of AXA REIM.
At Axa, Shayle was most recently regional head, covering the UK, Benelux and Nordic markets. “I see this as a great opportunity to join and lead an established business,” he said.
Further appointments within the team include Alex O'Connell, portfolio manager of UBS South East Recovery Fund who will become portfolio manager of UBS Triton, a separate vehicle. Sam Sananes, who has been acting portfolio manager for the South East Recovery Fund during O’Connell’s maternity leave, has been appointed portfolio manager to that fund. Nick Winsley, currently assistant portfolio investment adviser to UBS Secure Income Property Fund, will assume the role of portfolio investment adviser.
The reshuffle occurs following the hiring by Pramerica Real Estate Investors of three UBS professionals. Charles Crowe, Paul Dennis-Jones and Andrew Grigson are reportedly working their notice. They will set up a UK fund for Pramerica.
Richard Tanner has left UBS. The UK head of property is joining Arbuthnot, the banking and financial services group, to set up a real estate fund management business.