Australian Unity Investments (AUI) has made changes to its property funds management team following the retirement of head of property, Martin Hession, late last year.
Peter Lambden has been appointed to the role of head of property and asset management, where he will be responsible for reviewing all asset management activities and strategies for AUI’s property funds, and streamlining property and asset management processes across the portfolio.
Mr Lambden, who joined AUI in 2001, was previously head of diversified property funds. He has over 40 years experience in property and portfolio management and has held senior property roles with AXA as well as working with both local and federal government.
Mr Lambden is a fellow of the Australian Property Institute and served as its state president for two years. He holds a diploma in business studies – valuations from RMIT and is a certified practising valuer.
Mark Lumby, previously head of office and industrial property funds, will now be head of property funds – retail, with responsibility for AUI’s unlisted property funds in the office, retail, and industrial sectors as well as its two diversified property funds. The new role will strengthen AUI’s focus on the retail and intermediated market, where Mr Lumby will work closely with head of healthcare and retirement funds, Chris Smith.
Mr Lumby joined AUI in 2011 from Investa Property Group, when AUI became the responsible entity for the Investa retail property funds. He has over 15 years experience in funds management including working at Stockland and Trafalgar Corporate Group. Mr Lumby holds a bachelor degree in business from the University of Technology, Sydney.
Mark Pratt, general manager – property, mortgages and capital markets, said the changes further utilise the skills and experience of AUI’s property team, and enhances business focus on key areas of future growth.
“Our property funds business has grown significantly over the last few years and we continue to see opportunities for expansion.
“We are making these changes now to ensure we have the best possible expertise and knowledge to facilitate future growth and to take advantage of opportunities as they arise,” he said.
Australian Unity Investments is the funds management arm of financial services, health and retirement living services provider Australian Unity.
Its property funds management business has over $2 billion in funds under management (as at 31 December 2012). Australian Unity Investments’ unlisted property funds and syndicates own more than 60 properties in the healthcare, retail, industrial and office sectors, in Victoria, New South Wales, Queensland, ACT, Western Australia and South Australia.
For more information please contact:
Mark Pratt – Phone: 03 8682 4448
14 February 2013