Neil Thompson, the former executive director of Great Portland Estates, has been appointed as the UK chief executive of Brookfield Office Properties, with Martin Jepson leaving the company.
Jepson, Brookfield’s president and chief operating officer of its UK office division, has left the business “to pursue other opportunities”.
Thompson begins in May and will be responsible for one of the most valuable and prominent property portfolios in the City of London. Canary Wharf Group, in which Brookfield owns a 50% stake, will continue to be headed by Sir George Iacobescu.
Thompson is one of the most highly regarded developers in London and his recruitment is a coup even for the world’s largest owner of real estate. He resigned from his position last December, with GPE stating that “the company was unable to find a role within the group that matched Neil’s career aspirations” and discussions with Brookfield subsequently began.
Thompson forged a strong relationship with Brookfield during the development of its 900,000 sq ft joint venture with GPE at 100 Bishopsgate, EC3, from which Brookfield bought out GPE in 2014.
At the time of his resignation Jefferies equity analyst Mike Prew described Thompson as a “rising star… who we credit with much of [Great Portland Estates’] successful leasing” and who “will be a game changer” for the business that hired him.
Thompson was also the chairman of the Westminster Property Association until his resignation from GPE and is a past president of the British Council of Offices.
Jepson joined Brookfield in 2011 from Hammerson where he had been head of London. Brookfield subsequently bought Hammerson’s City office portfolio in a £518m deal the following year in what is broadly regarded as one of the most successful purchases of the last cycle. The portfolio was the grounding for Brookfield to become one of the most active developers in the square mile and included 99 Bishopsgate, EC2; a 50% stake in 125 Old Broad Street, EC2; Principal Place, EC2 and 1 Leadenhall, EC3.
Brian Kingston, chief executive of Brookfield Property Group, said: “We are pleased to announce that Neil Thompson will join Brookfield in May as chief executive of Brookfield Office Properties UK. Neil brings significant experience to this role and has had a distinguished career, most recently as executive director of Great Portland Estates in London.
“We are confident that Neil will build on the success we have had in London under the leadership of Martin Jepson, who has decided to leave Brookfield to pursue other opportunities.”
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