Arlington Securities set to go public
Real estate fund manager Arlington Securities is set to float following the appointment of a new chief executive.
The UK-based manager has recruited Richard Lapthorne, the chairman of Cable & Wireless and former finance director and vice chairman of British Aerospace.
Patrick Deigman, chief executive of Arlington, said: “Richard brings with him extensive in-depth industry experience and an international perspective. As the company enters its next phase of development, which includes decisions on issues such as growth and flotation, Richard’s input and experience will be enormously valuable to us.”
Arlington, which invests on its own account, develops and acts as fund manager, has £6.2bn (e9.1bn) of assts under management. David Hunter has stepped down as managing director of Arlington Property Investors (API), the group’s fund management arm.
API was formed in May 2004 following Arlington Securities’ purchase of the real estate investment management arm of Aberdeen Asset Management.
John O’Connor is to succeed as managing director. He will be joined by Andrew Smith as deputy managing director and Jon Austen, who will take up the newly created role of chief operating officer.