IPD, the global provider of property indices and benchmarks, today announced a series of important changes to its business in Australia and New Zealand, marking a re-launch of its services and a renewal of its commitment to the Australasian market.
The IPD Group has grown rapidly in recent years, mirroring the increasingly global scope of end-investors and the largest fund management houses and their need for consistent information. IPD has been active in the Australian market since 2005, when it teamed up with the Property Council of Australia to produce the direct property index.
Today, Australia is one of the largest and most sophisticated property investment industries in the world. IPD believes its data, analysis and tools can materially assist the key players to better understand the investment risk and return of the Australian property market, improve transparency and allow property fund managers to measure the performance of their portfolios and benchmark themselves against their
IPD is putting in place a number of key initiatives that will ensure it continues to be the leading provider of property performance measurement services in Australia and New Zealand:
· Dr Anthony De Francesco will join IPD as the new Managing Director from his current position as Head of Research at Colonial First State Global Asset Management. Anthony is one of Australia's best known and most respected analysts and his recruitment brings significant expertise to the IPD team.
· IPD's head office for Australia and New Zealand will be relocated from Melbourne to Sydney from where it will be better able to service its fund management clients.
· John Garimort, who has led IPD in Australia and New Zealand since 2005, will continue to be based in Melbourne, ensuring continuity and a link with the superannuation funds.
· Dr Kevin Swaddle, IPD's Director for Asia Pacific, will relocate to Australia during the transition period.
These initiatives follow the recently announced governance changes, which saw the appointment of Adrian Harrington as non-executive Chairman of IPD Australia, and the decision to appoint a number of industry leaders as non-executive Directors to the Australian board.
Following a strategic review of its Australian business, IPD will be revamping its current suite of products and launching new products and services that will provide high quality, credible performance information to the industry. More details to follow in the weeks and months to come.
Adrian Harrington, Non-Executive Chairman of IPD Australia said: "Anthony's appointment is timely given the increasing demand from investors and asset consultants for greater standardisation in the reporting of both property and manager level investment performance. IPD is committed to working with the industry to bring about greater transparency and promote best practice in property investment performance reporting."
Rupert Nabarro, Global Chairman of IPD said: "I am delighted to welcome Anthony De Francesco to this role and look forward to the energy and leadership that he will provide in continuing to grow the Australian and New Zealand business."
Peter Verwer, CEO of the Property Council of Australia said: "Anthony's appointment heralds an exciting new chapter for IPD in Australia, which is now positioned to play a critical role in efforts to improve market transparency and restore investor confidence in the property industry."
Commenting on the appointment, Dr De Francesco said: "I'm looking forward to joining IPD and excited by the opportunity to further expand its presence in the Australian and New Zealand market."