John Sims, director at co-investing fund manager Teesland, is to renounce his executive powers from 22 December
In an announcement due to be made at Teesland’s annual general meeting today, Sims will tell shareholders of his intentions to become a part-time non-executive director in the New Year, a move he hopes will allow him to achieve an improved work-life balance and spend more time with his family.
Sims joined Teesland two years ago after the company acquired his firm Property Fund Management for £37m. He will continue to provide strategic advice on the existing and new Teesland iOG fund products and maintain contact with fund investors.
Kevin McCabe, chairman of Teesland said: ‘John has made an enormous contribution to the rapid growth of Teesland. He as overseen the successful integration of iOG, the business he founded twenty years ago, into the Group since its merger with Teesland two years ago. During his tenure as head of the industrial funds division, he has not only significantly increased our funds under management but also contributed to the excellent performance for investors in the funds.’
Sims said: ‘My single business focus over the past twenty years has been building the iOG brand and the UK and European asset management platform. This has facilitated the launch of five industrial funds, which today exceed £1.5bn. It is now time to pass on the day-to-day executive responsibility for these funds, and establish a greater balance between my work for Teesland and private family interests.’