Derwent London appoint new Fi

RNS Number : 3879G

Derwent London PLC

01 February 2010

 



01 February, 2010

DERWENT LONDON PLC ("Derwent London" / "Company")

Damian Wisniewski joins Derwent London as Finance Director

Derwent London confirms that Damian Wisniewski has today formally been appointed as Finance Director of the Company.  Damian succeeds Chris Odom whose intention to retire after almost 22 years as the Company's Finance Director was announced on 30 September 2009. As previously indicated, to ensure a smooth handover, Chris will remain an employee of Derwent London until the Annual General Meeting in May 2010. 

Damian qualified as a chartered accountant with Ernst & Young in 1986 and subsequently spent 13 years at Chelsfield plc, initially as head of finance and from 2003 as Group Finance Director. He joins Derwent London from Treveria Asset Management where he was Finance Director. Prior to that Damian served as Chief Operating Officer of the Wood Wharf Limited Partnership (2005 to 2008).

There is no disclosure to be made under LR 9.6.13 of the FSA Handbook.

John Burns, Chief Executive of Derwent London, said:

"I am very pleased to welcome Damian to Derwent London. His considerable experience in the sector will enable him to make a significant contribution to the group and I am looking forward to working with him.

"I would also like to express my appreciation to Chris Odom for the enormous contribution he has made to the group over the last 22 years. I have enjoyed working with him and wish him well for his retirement. Chris leaves Derwent London with a robust balance sheet which will enable management not only to continue delivering superior growth from the existing portfolio, but also to exploit future opportunities.

Damian Wisniewski, Finance Director of Derwent London, said:  

“I am joining Derwent London at an exciting time in its development. I look forward to working alongside John and the Derwent London team to continue the group’s successful strategy, and to helping the Company deliver superior shareholder value.”

  

-Ends-

Enquiries:

John Burns, Chief Executive, Derwent London	Tel [phone]
Kate Holgate, James Rossiter, Brunswick Group	Tel [phone]

Notes to editors:

Derwent London plc

Derwent London plc is the largest central London focussed REIT with an investment portfolio of £1.9 billion comprising 5.5 million square feet as at 30 June 2009. The group is one of London's most innovative, office property regenerators and investors, and is well known for its established design-led philosophy and creative management approach to development. In December 2009, Property Week cited Derwent London's merger with London Merchant Securities plc as the 'Deal of the Decade, and voted the group as one of three property companies of the decade.

Derwent London's core strategy is to acquire and own a portfolio of central London property that has reversionary rents and significant opportunities to enhance and extract value through refurbishment and redevelopment. The group owns and manages an investment portfolio, of which 94% (at 30 June 2009), is located in central London, with a specific focus on the West End and the areas bordering the City of London. Landmark schemes by Derwent London include: Qube W1, Horseferry House SW1, Johnson Building EC1, Davidson Building WC2 and Tea Building E1.

 

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