Rapidly growing Australian-owned funds management firm Real Asset Management Group (RAM) has appointed a high profile chairman and two high calibre non-executive directors as it moves closer to listing the RAM Essential Services Property Fund on the ASX as a REIT.
Property industry veteran Greg Miles has will chair the board of RAM’s Responsible Entity. Greg has over 35 years of experience in property investment, development, asset and funds management. He was Chief Operating Officer of Scentre Group until his retirement at the end of 2019. Prior to this Greg was a part of Westfield Corporation’s Executive Leadership Team and was President and Chief Operating Officer of the Westfield American business for four years until the end of 2015.
Another well-known property industry heavyweight, Bryce Mitchelson will also join to the board as non-executive director. Bryce has more than 30 years’ experience in valuing, transacting, investing and developing a broad range of property types including retail, office, industrial, residential, childcare and healthcare real estate in Australia. In February 2019, he retired from his role of Managing Director at Arena REIT Limited (ASX Code ARF), a business he co-founded and listed some years earlier. For the five years until his retirement, Arena was the highest performing ASX300 A-REIT in the market and still sits on a considerable premium to NTA.
Marianne Perkovic completes the experienced team as a non-executive director. Marianne has over 25 years’ experience in executive and board roles in the financial services industry with a focus on Wealth Management, Financial Advice, Private Banking and Superannuation across Australia, Hong Kong and Singapore. She was recently the Executive General Manager, Commonwealth Private at Commonwealth Bank. Prior to joining CBA in 2010, Marianne was CEO at Count Financial Limited.
RAM Australia CEO, Scott Kelly said he was delighted with the appointments. “The decision of these three leaders to join the board is a very significant endorsement of the REIT, the RAM Group business and its strategy for future growth. It is a very strong group with highly relevant experience,” he said. Mr Kelly and RAM Group CEO Scott Wehl are executive directors.
The RAM Essential Services Property Fund will consist of a geographically diversified portfolio of more than 20 high quality Australian medical and neighbourhood convenience-based properties, anchored by tenants providing essential services, with a long WALE profile.