Property investment company Picton Property Income has appointed Michael Morris as a non-executive director.
In addition to his role as chief executive of the company’s investment management subsidiary, Morris will also sit on the main board, which represents shareholder interests and is responsible for the group’s investment policy.
In the past 12 months, Picton has seen a 73% rise in net assets and another year of out-performance against IPD.
Morris says: “Picton has real momentum, we are doing great things at a portfolio level and improving occupancy, delivering strong returns for shareholders. I’m delighted to be joining the main board at this time, as we continue to grow the business.”
Picton chairman Nicholas Thompson said: “Making this appointment reflects the successes of the company since Michael led the transition to internalised management and the formation of Picton Capital in 2012.”
While Morris has more than 20 years experience in the industry, his big break, as he describes it, was not his appointment as fund manager to ING UK REIT where he worked with the group from its launch in 2005, but a double spiral fracture of his femur, following a skiing accident in 2002.
Multiple operations and a lengthy rehabilitation gave him a new perspective on life. “I’ve been lucky and I really appreciate that.
I’m a firm believer in making the most of what you’ve got and being positive,” he says.
Morris, who has an engineering background, considered a career in the RAF, but has no regrets about choosing property. “It’s a great sector. I can’t think of many others where businesses are so well networked and there’s such a commercial approach to life. I fear the day when my kids think about becoming a lawyer, banker or accountant.”
Adding to his credentials, Morris sits on the property panel of the Association of Investment Companies and the CPD steering committee of the Investment Property Forum.
