Schroders Capital, the private market investor with $97.3 billion of assets under management, has promoted Nick Montgomery to the role of global head of real estate and announced the formation of a new leadership team.
Montgomery, currently head of United Kingdom real estate, will take over from Sophie van Oosterom. Schroders, based in London, has its United States headquarters in New York City.
Schroders Capital said its real estate business is a strategically important growth area, with the team managing over $27.9 billion of assets in a range of strategies across 16 markets globally. Van Oosterom is understood to be joining Canada Pension Plan Investment Board as global head of real estate.
Montgomery has been at Schroders for 12 years. Schroders said he has overseen strong growth of the United Kingdom business including significant new mandate wins and the launch of Schroders Capital’s Real Estate Impact Fund. Montgomery has a track record of delivering outperformance for clients across a range of strategies including the United Kingdom listed Schroder Real Estate Investment Trust, Schroders added.
"These changes also coincide with a cyclical recovery in many real estate markets, which provides a supportive backdrop for growing this strategically important part of Schroders Capital," Montgomery said in a statement. "I look forward to working with Sophie to ensure an orderly transition."
Alongside the appointment, Roger Hennig becomes head of continental Europe, based in Zurich. He previously led Schroders Capital’s real estate team in Switzerland and has pan-European knowledge and experience.
Kieran Farrelly becomes global chief investment officer for real estate, in addition to his existing Solutions responsibilities, and James Macnamara will assume global responsibility for value-add and alternatives investments, building on his focus as head of strategy, hotels and operating assets.
Georg Wunderlin, global head of private assets, Schroders Capital, said in a statement: “Our continued success is built upon a deep bench of investment expertise, guided by the clear vision of management. With a strong team in place, and with each promotion thoroughly deserved, we will continue to explore investment opportunities, with a differentiated proposition that consistently deliver superior returns for clients. As we flex our proposition to suit conditions in the market, we can ensure our business remains well-positioned for long-term success.
"I extend my deep gratitude to Sophie for her commitment to the business. It has been a pleasure to work with her and I wish her every success as she embarks on a new role on the client-side.”