Downing appoints co-chief executive

Investor and developer Downing has named Bay Downing – the son of chairman and founder George Downing – as co-chief executive, working alongside Sally O’Brien. Downing has worked in the 35-year-old family owned business since 2018. In his new role, he will focus on scaling operations, harnessing technology and unlocking new investment opportunities across cities including Manchester, Bristol, Leeds, Glasgow, Newcastle and London. The company already boasts a £1.6bn development pipeline. Downing will also manage the relationship between the company and its living sector-focused subsidiary, Aboria Capital, launched last year alongside Jessica Hardman, former head of European portfolio management and UK chief executive of DWS. Aboria is in the market fundraising with the help of UBS for an initial strategy. “The exciting journey that we’re on now is transitioning to be a vertically integrated investment manager, developer and operator, providing an investor-to-resident investment model,” Downing told Estates Gazette. “We’re in a unique position to be able to do that with both our history, our 200 people within the business and joining forces with Jessica Hardman and Aboria… I feel like we’ve got every box-ticked. We just need to execute on it now.” Downing will also focus on data and technology – including artificial intelligence – with a goal of stripping out manual processes where possible. “It’s about being curious as to how we can do everything better across the whole group,” he said. “I really do believe we set some of the industry standards on both designs and operations and on some of the initiatives that we’ve had over the last 30 years. So I’m not trying to change anything that worked but really ask how can we improve it – that’s the question I ask myself most days.” O’Brien said: “Bay has been an integral part of Downing’s journey, and his new role as joint-CEO is a natural progression. His deep understanding of the business, coupled with his forward-looking approach, will be key as we navigate our next phase of growth. I’m excited to collaborate with him as we continue to seize emerging opportunities in the property sector.”