M&G has appointed Martin Towns as Global Head of the firm’s US$42bn real estate business.
His appointment follows the retirement of Tony Brown who leaves M&G after a 35-year career in infrastructure and real estate investment.
During his 15-year career at M&G, first as a fund manager and most recently as Deputy Global Head of M&G Real Estate, Towns has presided over the firm’s entry into the residential sector in 2013 and establishment of its capital partnerships business in 2015.
He also 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.
After 11 years with M&G, Brown will relocate to Australia with his family at the end of June.
Emmanuel Deblanc, CIO of M&G’s US$93bn 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.”
