Chelsfield, one of the UK’s longer standing property companies, has confirmed its appointment of Nicholas Loup, Grosvenor’s head in Asia for the past 20 years, as its own leader in the region.
The firm announced today that Loup, a “dynamic and knowledgeable force in the market” has been appointed to join its board of directors. It said his hire “cemented” its long-term interest in Asia, without revealing its strategy for the region going forward.
He officially starts at the London-headquartered firm in April following a handover period at Grosvenor, also London-based. Benjamin Cha is to take on his duties after joining from Swiss bank UBS.
Loup, who will remain based in Hong Kong, said: “At a time when the key cities of Asia are coming to maturity and showing enormous potential for growth, I am excited about the opportunity to extend the activities of the Chelsfield Group globally.”
He went on to state that Elliott Bernerd, the founder of Chelsfield and one of the best known property investors in the UK, was one important factor in him joining. He said: “Elliott Bernard, whom it has been my pleasure to know for decades, is a market leader and it will be a privilege to join him and his team.”
The new role for Loup has not impacted his chairmanship at the Asian Association for Investors in Non-listed Real Estate Vehicles (ANREV). Indeed, Chelsfield became ANREV’s 200th member when it joined the association last month.
The change for Loup brings down the curtain on a 25 year association with Grosvenor, which invests both directly and indirectly via its Grosvenor Funds Management business.
He has led the firm’s activities in Asia since establishing its office in Hong Kong in 1994. The firm has since expanded to Shanghai and Tokyo.