24th Sep 2024 11:40
(Alliance News) - LondonMetric Property PLC on Tuesday announced that it appointed Darren Richards as chief investment officer, a newly created role.
The London-based real estate investor poached Richards from London-based commercial property developer and investor British Land PLC, where he has been a member of the executive committee since 2014.
British Land confirmed that Richards has resigned from his role as head of Real Estate, and is set to leave the company. He will be replaced by Kelly Cleveland in a newly created role of Real Estate & Investment.
Cleveland joined British Land's executive committee in 2020 and will take on her new role in mid-October.
Before joining British Land in 2005, Richards worked at Pillar Property PLC alongside some current LondonMetric employees.
LondonMetric Chief Executive Officer Andrew Jones said: "Darren is an influential and experienced real estate player and he will play an important role in the next phase of LondonMetric's journey. It's great to get the band back together."
LondonMetric shares fell 1.3% to 204.20 pence each on Tuesday morning in London, while British Land shares were 1.4% lower at 443.20p each.
By Tom Budszus, Alliance News slot editor
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