Morley today announced a number of senior changes within its property business, which it said were ‘designed to strengthen teams and more evenly align senior roles with its most important client groups’.
The UK’s largest institutional owner of property, managing more than £32bn of UK and European properties, has promoted Andrew Appleyard, Robert Walton, Philip Nell, Neil McLeod and Ben Stirling. ‘These moves give Morley a stronger and more balanced business and most importantly, a stronger alignment between our fund management teams and their clients,’ said property head Ian Womack.
Appleyard, the fund manager for out of town retail and leisure has been appointed head of UK specialist property funds. His responsibility includes the Mall, Ashtenne, Apia, Quercus and Igloo funds. A replacement for Appleyard will be sought over the next few weeks.
Walton has been appointed head of UK institutional property funds, with responsibility for both the pooled and segregated fund teams and fund management of Morley Pooled Pensions Limited.
Nell has become head of UK retail property funds. This is a new role, which combines responsibility at the fund manager level for both Norwich Property Trust and Norwich Property Investment Fund. ‘Combining these two funds under the same manager makes sense in the context of client alignment,’ Morley said.
McLeod will move formally into the role of fund manager for central London offices, which he has been managing for the past six months.
Stirling has been appointed head of European property, reporting directly to Womack ‘reflecting the continued growth plans for this business and its maturity into a more stand alone business’.