M&G has appointed Martin Towns as global head of its US$42bn (£31.9bn) real estate business following Tony Brown’s retirement after a 35-year career in infrastructure and real estate investment.
Towns, who will begin his role on 1 July, has been with M&G for 15 years and is currently the deputy global head of the business. He previously served as a fund manager.
Towns spearheaded M&G’s entry into the residential sector in 2013 and launched its capital solutions business in 2015. He also played a key role in the majority acquisition of BauMont Real Estate Capital, supporting M&G’s strategy to expand its European private assets platform and enhance high-risk, high-return real estate strategies.
Brown, who has spent 11 years at M&G, will relocate to Australia with his family at the end of June.
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.
“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 said: “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.”
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.”
Send feedback to Shifali Gorka
Follow Estates Gazette
