Edmond de Rothschild REIM has recruited three managers from independent real estate manager Cordatus to lead its push into the North of England and Scotland.
Mike Channing, Gavin Munn and Paul Blyth will help Edmond de Rothschild REIM achieve its growth ambitions in these regions through a newly established ‘Northern Hub’.
As part of the agreement, the Cordatus team will join forces with Edmond de Rothschild REIM to expand investment reach in Scotland for the residential business and to lead income-led strategies across commercial sectors. As part of the collaboration, Edmond de Rothschild REIM will also take over Cordatus’ existing mandates.
Channing will become COO of Edmond de Rothschild REIM UK and Munn and Blyth have been appointed as senior directors.
DJ Dhananjai, CIO of Edmond de Rothschild REIM UK, said: “With the addition of Cordatus, we gain one of the more experienced teams in the UK institutional real estate market, making us one of the few investment managers with local asset and investment management capabilities based across three offices – London, Birmingham and Edinburgh.
“The combined set up brings us closer to UK local government pension schemes and has been a highly attractive way of building the business with a financially de-risked approach with long-term prospects of creating business value through recurring income streams.”
Channing added: “We are excited to have joined a vibrant and growing business, that has the skillset and focus on a key growth area of the UK real estate investment market. The two businesses have a lot in common in their approach to managing client’s money: from an emphasis on long term sustainable wealth management to offering a client focussed and personalised service, with a disciplined approach to risk management and a strong focus on sustainability. We are convinced that our commercial real estate expertise can provide an extra string to the Edmond de Rothschild REIM UK bow.”
