Invesco has announced new leadership for its European real estate business. After 23 years at the firm, Europe real estate head and CIO Andy Rofe is due to retire, and his position is being split into two distinct roles.
The restructuring reflects the firm's approach to managing its European real estate operations as it moves forward. Dividing the responsibilities of the head and chief investment officer roles into separate positions allows each to be given dedicated focus on investment strategy and business leadership.
Rofe's departure marks the end of a long tenure at the firm. His 23 years of service span a significant period in European real estate markets, which have seen considerable change in investor demand, financing conditions and asset class preferences over that time.
The appointments are part of a broader management update within Invesco's real estate platform. Further details on the individuals taking on the new roles, along with their start dates, were not included in the initial announcement.
Source: Real Estate Investor · Summarized by HeadlinesBriefing