Former property analyst Pelmore to join Unibail-Rodamco board

Alec Pelmore, the former top-ranked property analyst, is to join the supervisory board of Unibail-Rodamco.

The 53-year old Pelmore, who left Merrill Lynch in the summer, will be proposed as a supervisory board member along with retail expert Mary Harris at Unibail-Rodamco’s annual general meeting next April. The two appointments, announced this morning by Unibail-Rodamco, the newly-merged European shopping centre giant, will complete the company’s board line-up.

After an actuarial training with an insurance company, Pelmore specialised in property analysis. His early career was spent working with Adrian Elwood at Scrimgeour Vickers, Morgan Grenfell and Laing & Cruickshank.

In 1990 he left Laing with the third member of the team, Robert Fowlds, to go to Kleinwort Benson, while Elwood, stayed put at Laing.

Pelmore and Fowlds then spent the next 16 years together – the first seven at Kleinwort, the following nine at Merrill Lynch. They were rated the top UK property analysts every year from 1994 to 2007, except for one year, 2000, when they came second.

In 2006 Fowlds left to join Richard Cotton’s real estate investment banking team at JP Morgan Cazenove.

The other new member of the Unibail-Rodamco board, Mary Harris, spent 12 years until 2006 working for McKinsey, latterly as a partner in the Singapore and Amsterdam offices. The 41-year old lives in the Netherlands and is a non-executive director of TNT and Sainsbury’s.