13th Feb 2020 12:40
(Alliance News) - Residential Secure Income PLC on Thursday said its fund manager Residential Secure Income Capital Management Ltd has hired James Sly as finance director, effective immediately.
The real estate investment trust said Sly was previously finance manager at United Trust Bank Ltd. Prior to that, he was group financial accountant at Poundland owner Pepkor Europe Ltd, now Pepco Group.
"James is highly-qualified and ambitious. He has a successful track record working alongside senior management and board members to implement new processes and frameworks that have delivered clear and improved results and has repeatedly demonstrated his ability to lead positive change from inside a business, said TradeRisks Ltd Chief Executive Alex Pilato.
ReSI Capital Management is wholly-owned by capital markets advisor & fund manager group TradeRisks.
"Residential Secure Income Capital Management has a pipeline of significant growth milestones ahead, and we look forward to James being integral in delivering these," Pilato added.
At the end of its first quarter ended December 31, Residential Secure Income recorded a decline in its net asset value and a drop in the value of its retirement homes portfolio. The trust posted an IFRS NAV of 107.7 pence compared to a 108.6p IFRS NAV on September 30. Its total property portfolio fell by GBP500,000 on a like-for-like basis to GBP260.3 million due to a drop in the value of its retirement homes portfolio.
Shares in Residential Secure Income were up 0.8% at 100.00 pence each on Thursday afternoon in London.
By Ife Taiwo; [email protected]
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