Board Changes

RNS Number : 9934D

Quintain Estates & Development PLC

24 May 2012

 



May 24 2012

Appointment of new Chief Executive and Deputy Chief Executive at Quintain Estates and Development Plc ("Quintain")

Quintain, the London regeneration specialist, today announces that Adrian Wyatt is stepping down as Chief Executive on 25 May 2012, 20 years after he founded the business. Maxwell James, Executive Director of Quintain, has been appointed Chief Executive with effect from the same date. Rebecca Worthington is promoted to Deputy Chief Executive and she will continue with her responsibilities as Finance Director until her successor is appointed, working in partnership with Richard Stearn, Deputy Finance Director, who joined Quintain from Berkeley Group earlier this year. Nigel Kempner, who joined Quintain in February following the acquisition of Grafton Advisors has also been appointed as an executive director with effect from 25 May*.

Max James,45, joined Quintain in May 2011 and was appointed to the Board in July. Before joining Quintain, he was Chief Executive of Lowndes Partners, LLP, a specialist real estate investment bank, which he founded in 2006. He was previously Global Head of Real Estate at HSBC Investment Bank and a director of Lazard.

Rebecca Worthington, 40, joined Quintain in 1998 and has held a number of roles within the business, including Company Secretary, before being appointed as Finance Director in 2001. In addition to her role as Finance Director, Rebecca is responsible for the group's regeneration activities at Greenwich Peninsula. She originally qualified as a Chartered Accountant with PricewaterhouseCoopers in 1997 and went on to work as Financial Controller of Britton Group.

Nigel Kempner, 55, has more than 35 years experience in the property sector. He was previously chief executive of Benchmark Group PLC, a publicly quoted central London property company. After Benchmark Group PLC was sold to GE Capital for over $450 million in June 2004, Nigel set up Grafton Advisors LLP principally to advise GE on the disposal programme for its Benchmark assets which it completed in 2008. In 2001 he created the West End of London Property Unit Trust (WELPUT) with Schroders.

William Rucker, Chairman of Quintain said:

'As the founder of Quintain, Adrian is a visionary in the property market. His passion for London regeneration has paved the way for two of the capital's most exciting schemes, complemented by a specialist asset management business of real scale focused on areas such as student accommodation and healthcare which benefit from compelling social, economic and environmental trends. His ability to steer the business through the turbulence of the credit crisis to where it is today, is a significant achievement. The board wants to express the gratitude of the whole company and we wish Adrian every success as he devotes his experience and talent to a range of activities. Adrian's legacy includes a talented management team and the board is delighted that Max and Becky are taking on new roles, supported by Nigel Kempner. The team are ideally suited to realising the many opportunities ahead.'

Adrian Wyatt OBE, said:

'After 20 years leading Quintain, the time is right for me to hand over the reins to the next generation to take the business forward. I am proud of everything we have achieved and there is no better leadership for Quintain than the combination of Max and Becky. I remain passionate about the business and look forward to it fulfilling its potential in the years to come.'

Maxwell James said:

'Quintain is very well positioned with its combination of London regeneration schemes and asset management. We have tremendous opportunities to create value for all our stakeholders and I look forward to working with Becky to bring these to fruition.'

*There are no further disclosures to be made regarding Nigel Kempner's appointment under Listing Rule 9.6.13

For further information, please contact:

Quintain Estates & Development plc

William Rucker

Tel: [phone]

RLM Finsbury

James Bradley / Jenny Davey

Tel: [phone]

Notes to editors:

Quintain

Quintain is a listed UK property company operating through two businesses: London

centric Urban Regeneration and Fund Management.

London:

Quintain is responsible for two of the largest schemes in London at Wembley and the Greenwich Peninsula.

Wembley:

Quintain is transforming 85 acres of former exhibitions lands around Wembley Stadium to create a retail and leisure destination which will deliver people, businesses and economic growth to the heart of Wembley.

Greenwich:

On a 190 acre site surrounding The O2, Quintain and its partner Lend Lease (Europe), are creating a new London community along 1.6 miles of Thames river frontage.

Asset Management:

Quintain's Asset Management business has £2.2 billion of assets under management,

following the acquisition in February of the specialist central London strategic property adviser,Grafton Advisors (2006) LLP ("Grafton"). Quintain's specialistAsset  Management activities are focused on Central London, healthcare, higher education and science parks. The Company seeks to generate excellent returns for investors thereby creating profits from fee and asset management income.

Further information about the company is available on the Quintain website at

www.quintain.co.uk

 

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