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AMP Capital has made a number of changes to its retail real estate business, including its Shopping Centres leadership team, to position it for the next phase of growth. AMP Capital’s Shopping Centres business has a portfolio of 27 centres throughout Australia and New Zealand, which generates more than $A7.9 billion in annual sales.
Bryan Hynes is stepping down from the role of Managing Director to explore the next phase of his career. During a 25-year career in the shopping centres industry, including 18 years at AMP Capital, Mr Hynes has held many senior roles including General Manager of Warringah Mall, Divisional General Manager for New South Wales, South Australia and New Zealand, and Head of Retail Asset Management. Since his appointment as Managing Director in November 2007, the Shopping Centres business has grown from A$4 billion to A$10 billion in assets under management.
Mark Kirkland, currently AMP Capital’s Head of Shopping Centre Development and a member of the Shopping Centres leadership team, has been appointed Managing Director of AMP Capital Shopping Centres effective 1 January 2017. Mr Kirkland joined AMP Capital in late 2012, has extensive experience in the real estate industry and a deep knowledge of the business and track record of delivering for investors.
AMP Capital Global Head of Real Estate Carmel Hourigan said: “With 27 years of major project experience in the property sector, 24 years of which have been focused on retail, Mark brings an impressive skill set to take our Shopping Centres business to the next phase of growth.
“Mark has been instrumental in the successful delivery of Pacific Fair and Macquarie Centre and has contributed heavily to the efforts we have undertaken to maximise the value of the existing portfolio and enhance performance for our investors.
“Now that AMP Capital has delivered these successful developments on the east coast and will be turning our attention to developments in Western Australia, it is the right time to refocus the business under new leadership and I am pleased we have such a strong internal candidate in Mark.
“I would like to acknowledge Bryan’s significant contribution to our business, most recently leading the team in the delivery of award-winning developments at Pacific Fair and Macquarie Shopping Centres. I would like to thank Bryan for the legacy he has created and his efforts in ensuring AMP Capital is best positioned to capitalise on opportunities within the real estate market.”
Greg Antoniadis will replace Mark Kirkland as Head of Development, AMP Capital Shopping Centres. Mr Antoniadis joined AMP Capital in 2016 and is an internationally-experienced property executive. His strong mixed-use capability, coupled with his core retail experience, will be valuable given AMP Capital’s strategic focus on increasing mixed-use across its Real Estate business.
Con Brakatselos, currently AMP Capital Shopping Centres Head of Investment Management and Strategy, will take on a refocused role, working closely with Mr Kirkland on strategy, acquisitions, digital and the future focus of retail. These three new appointments are effective from 1 January 2017.
In addition, AMP Capital’s extensive real estate research capability, which currently sits across the business, will be centralised into a single research team to improve the insights provided to clients and business partners. AMP Capital has created a new role – National Head of Research, Real Estate – to lead this team, reporting directly to Louise Mason, AMP Capital Chief Operating Officer of Real Estate.
A further new role of Head of Strategy and Planning will be added to Louise Mason’s leadership team. This role will lead the strategy and business planning cycle, working closely with the AMP Capital Real Estate leadership team and the broader AMP Capital business.
An internal and external search for both roles is underway.
This article has been prepared to provide general information and does not constitute 'financial advice' for the purposes of the Financial Advisors Act 2008 (Act). An individual investor should, before making any investment decisions, consider the information available in the relevant Product Disclosure Statement and seek professional advice. While every care has been taken in the preparation of this document, AMP Capital Investors (New Zealand) Limited and the AMP Group (together, 'AMP') make no guarantee that the information supplied is accurate, complete or timely and do not make any warranties or representations in respect of results gained from its use. The information is not intended to infer that current or past returns are indicative of future returns. The views expressed are those of the author and do not necessarily reflect those of AMP. These views are subject to change depending on market conditions and other factors.