M&G Real Estate rejigs, appoints Brown as global head after Jeffrey departure

Tony Brown © D.R.

M&G Real Estate, the property investment manager of British insurance group Prudential, has appointed Tony Brown as new global head following the departure of long-time predecessor Alex Jeffrey to run the Asia-Pacific region.

Simon Pilcher, chief executive of M&G’s institutional fixed income business, becomes M&G Real Estate executive chairman, providing strategic direction in addition to his other duties, the firm said in a release. The move follows the recent merger of M&G and Prudential’s UK and European business to form M&G Prudential ; Pilcher's role has been created to broaden the distribution of real estate strategies and accelerate growth.

Brown, formerly CIO at M&G Real Estate since 2014, said: "I look forward to building upon our strong foundations as a major international real estate fund manager as we diversify and grow our activities while targeting exemplary investment performance."

Martin Towns is promoted to Head of UK Commercial & Capital Solutions responsible for UK-based real estate fund management. A head of investment strategy role will be created to oversee investment governance and drive thought leadership in research and digital innovation. Both roles will report to Brown and have a seat on the M&G Real Estate board.

M&G Prudential is the UK and European savings and investment business of Prudential plc - the global financial services company. Formed in August 2017 from the merger of M&G Investments and Prudential’s UK and European businesses, it manages £337bn of assets for more than 7m customers. Its £30bn property arm has a sector leading approach to responsible property management, and is committed to improving the sustainability performance of its funds.