Rupert Nabarro, the co-founder of IPD, has resigned from his position as senior adviser to the organisation, which is now owned by MSCI.
The decision brings an end to Nabarro’s 31-year run with the company, which produces the real estate industry standard for benchmarking investment performance.
Nabarro and co-founder Ian Cullen, who is still a consultant to the business, sold IPD to global analytics company MSCI in 2012 for £78m. Since the deal Nabarro’s involvement has been steadily reducing. Nabarro was working half a day per week prior to his departure.
Last year MSCI made around 15 staff redundant, including executive director Phil Tily, as it looked to cut costs. Managing director Laurent Ternisien left the business separately; the two had been at the organisation 23 and 15 years respectively.
MSCI’s real estate client services are now headed by executive director Malcolm Hunt..
In an e-mail to former colleagues, friends and contacts, Nabarro wrote: “We sold the business to facilitate further growth, especially in the US, and received assurances that the identity and team we had created would be preserved and developed.
“While results to date have been disappointing, I am hopeful that there will be a successful outturn to the investments that are being made and I thank those of you still employed for the extraordinary efforts you are making to enable this.”
Despite the changes made at MSCI, the company has been investing in its technology since the deal and next month it is to launch a new global data platform intended to standardise the figures it releases.
The new platform is aimed at global asset allocators for use when considering investing in real estate.
Further to this, in June MSCI will be launching a new interface for real estate customers to use to access and analyse the data the company provides.
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