Henderson appoints Steve Mallen Director of Property Research (EUR)

Henderson Global Investors has appointed Steve Mallen as its new Director of Property Research for Europe. Mallen will take up his new position in the Henderson property team, which has €8.4 billion (£5.9 billion) assets under management in Europe, in early 2005.

He joins from leading property consultancy Knight Frank, where he has spent 16 years building and leading the firm’s global research business and international consulting services.

In addition to his research responsibilities, Steve Mallen will also join Henderson’s Property Investment Committee, which is responsible for the investment process under the leadership of Patrick Bushnell, Director of Property Investment.

During 2004, Henderson has launched four new UK funds and successfully completed the creation of the European Outlet Mall Fund with McArthur Glen. In total, these five funds have a combined asset value of approximately €2.5billion (£1.74 billion). It has also experienced a busy investment phase across key European markets, primarily through its successful Pan-European Speczialfonds in a joint venture with MM Warburg in Germany.

Commenting on the appointment, James Darkins, Managing Director of Henderson’s Property Business, says “We have had a fantastic year and seen substantial growth with the launch of five funds. We are now looking forward to a period of consolidation as we focus on carefully investing the capital we have raised and optimising the investment performance of our funds. As we look ahead with confidence to 2005, we are delighted to have appointed someone of Steve’s calibre and experience, in such a key position, to help us to continue to build a strong and successful business.”

Steve Mallen commented: “I am pleased to be joining an organisation with an exceptionally strong brand and track record which places research at the forefront of the investment process. There will be much change and opportunity in the European investment market in the years ahead. I leave Knight Frank with good memories and many friends and I look forward to working with an industry leading team in order to ensure that Henderson retains its position as one of Europe’s largest and most successful fund management operations.”

Commenting on the departure, Howard Woollaston, Partner and Head of Professional Services at Knight Frank stated: “Steve has been instrumental in making Knight Frank Research one of the world’s most respected sources of market information and forecasting. He leaves with our very best wishes. Henderson and Knight Frank enjoy excellent working relations in respect of acquisitions, disposals and a range of professional services and this will continue into the future. As recently announced, Partners Catherine Penman and Sarah Ashby are jointly leading our UK Research team, and their remit will now be broadened to include global research.”

Source: Henderson

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