Schroders global head of real estate Duncan Owen will step down from his responsibilities in December 2020, the firm has announced.
Owen (pictured), who had been at Schroders for almost a decade, will remain at the firm and will serve as a special advisor to Schroders Real Estate.
He will continue to advise the Schroders UK REIT and the SREIM board, and will remain on the board of the Asian property firm Pamfleet, where the asset manager has bought a majority stake recently.
Meanwhile, Sophie van Oosterom will succeed Owen as global head of real estate.
She will officially start in the role in January 2021 and will oversee the firm’s direct and indirect real estate portfolio.
She joins from CBRE Global Investors, where she was CEO and CIO of EMEA. In this capacity she was responsible for all operations, including investment strategy, performance, and program development in the region.
She also served as a member of the global executive committee and global investment committee and as chair of the European executive committee and European investment committee.
Commenting on the hire, global head of private assets Georg Wunderlin, said: ‘Sophie joins us with a strong track record of building successful private assets businesses. She will be a key partner in our strategy to become a market leader in this field. This is an exciting time in our journey, and Sophie brings a wealth of relevant experience which will help us achieve the next phase in our growth for our real estate and broader private assets platform.’
‘I remain grateful for Duncan’s valuable contribution to our Real Estate business over the past 9 years and we are glad to continue to have his support as a Special Advisor. He has steered the team through an important phase of growth and leaves us in a strong position to continue to execute our strategy to strengthen the platform to better serve the needs of our investors.’
The firm added that its real estate division had significantly grown under Owen’s leadership, resulting in €19.2bn of assets under management as of 31 December 2019.
Schroder Real Estate forms part of Schroders’ private assets business, which manages €47bn (£44.2bn) assets across a number of classes, which include private equity, infrastructure, microfinance and impact investments, insurance-linked securities and securitised credit.
Van Oosterom has 24 years of experience in the industry. Prior to joining CBRE Global Investors, van Oosterom was a managing director and European head of asset management at Lehman Brothers Real Estate Partners private equity funds, now formally known as Silverpeak Real Estate Partners.