Martin Towns has been named head of M&G鈥檚 global real estate division, succeeding Tony Brown, who is retiring after a 35-year career in infrastructure and real estate investment.
M&G said Towns will lead its $42bn (鈧�38bn) real estate business from 1 July. Brown is moving to Australia with his family at the end of June, ensuring a handover period before his departure.
Towns, who has been with M&G for 15 years, has held roles including fund manager and, more recently, as deputy global head of M&G Real Estate, where he played a key part in the firm鈥檚 2013 move into the residential market and the 2015 formation of its capital partnerships business.
Emmanuel Deblanc, CIO of M&G鈥檚 private markets division, said: 鈥淣ot only is Martin鈥檚 appointment testament to his exceptional drive and visionary approach, it reflects the depth of talent we have within M&G. I look forward to seeing the continued impact of his leadership.
鈥淯nder Tony鈥檚 stewardship, our real estate business has gone from strength to strength, delivering innovative investment strategies and opportunities for our clients on three continents. We thank Tony for his significant contribution to the business and wish him well in his retirement.鈥�
Towns said: 鈥淢&G has long been at the forefront of real estate investing, providing access to innovative strategies and supporting global investors in achieving their long-term goals.
鈥淎s we enter this dynamic next phase of the property cycle, we see many compelling new opportunities across global markets, which our teams are ideally placed to tap into. I am excited by the opportunity this brings for us as a major investor as we look to further cater to the fast-evolving needs of our investors.鈥�
Brown said: 鈥淩eflecting on my time in the real estate industry has been immensely gratifying. I鈥檓 also very proud of the talent we have within the business and, with Martin driving future growth and innovation, I鈥檓 sure he will take M&G Real Estate to even greater heights.鈥�
Brown has led M&G Real Estate since 2018, having previously served as its chief investment officer from 2014.
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