M&G has appointed Martin Towns as global head of the firm’s circa $42bn real estate business, effective 1 July.
Towns will replace Tony Brown who is retiring from M&G after 11 years at the firm and relocating to Australia with his family.
Towns has spent 15 years at M&G, first as a fund manager and most recently as deputy global head of M&G Real Estate.
He played an instrumental role in the majority acquisition of BauMont Real Estate Capital as part of M&G’s objective to strengthen its position as a European leader in private assets and deliver higher risk/return strategies for its real estate clients.
Emmanuel Deblanc, chief investment officer of M&G’s private markets division, said: “Not only is Martin’s appointment testament to his exceptional drive and visionary approach, it reflects the depth of talent we have within M&G. I look forward to seeing the continued impact of his leadership. Under Tony’s stewardship, our real estate business has gone from strength to strength, delivering innovative investment strategies and opportunities for our clients on three continents. We thank Tony for his significant contribution to the business and wish him well in his retirement.”
Towns added: “M&G has long been at the forefront of real estate investing, providing access to innovative strategies and supporting global investors in achieving their long-term goals. As we enter this dynamic next phase of the property cycle we see many compelling new opportunities across global markets, which our teams are ideally placed to tap into. I am excited by the opportunity this brings for us as a major investor as we look to further cater to the fast-evolving needs of our investors.”
Brown said: “Reflecting on my time in the real estate industry has been immensely gratifying. I’m also very proud of the talent we have within the business and with Martin driving future growth and innovation, I’m sure he will take M&G Real Estate to even greater heights.”
