Bill Hughes, deputy managing director of Schroder Property Investment Management, has been appointed as chief executive of Deutsche Property Asset Management (DPAM).
He replaces Simon Cooke, who left in February and now works for private equity firm Hotbed.
Hughes, currently second-in-command to Schroders’ William Hill, will manage DPAM’s portfolio of nearly £1bn of assets under management.
He will lead a property team of 16 people including seven surveyors, and will report directly to Paul Berriman, chief executive of Deutsche Asset Management UK and Don King, global head of DB Real Estate.
Prior to joining Schroders in 1997, Hughes was an associate director at Jones Lang Wootton Fund Management, following a position as research analyst at Debenham Tewson Chinnock.
Paul Berriman commented: “We are delighted that someone of Bill Hughes’s calibre has decided to join Deutsche to lead our property investment management division.
“Bill’s track record of growing a business and managing client relationships will be a great advantage to our plans to expand our offering at a time when there is renewed pension fund interest in property.”
References: EGi News 08/10/03
