J P Morgan real estate nabs Deutsche's Tyrell

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EUROPE - J P Morgan Fleming Asset Management has hired Nick Tyrell as head of European research and strategy for its real estate business.

The move comes as it seeks to boost its European presence in the area.

The group said Tyrell joins from Deutsche Bank Real Estate where he was most recently head of European real estate research. The appointment was part of a "major expansion" into the European real estate market.

"Our aim is to build a leadership position in European real estate," said Clive Brown, head of J P Morgan Fleming's international business.

"The J P Morgan Fleming European Real Estate business aims to build on the success of the firm's US real estate business where it manages 18.1 billion dollars of real estate assets on behalf of over 150 institutional clients," the firm said.

Peter Reilly, chief investment officer of the European Real Estate business, will head the unit. Reilly said: "Nick's appointment sends a very clear message that J P Morgan Fleming is serious about its intentions in growing a European real estate business."

"We are very excited about the potential for this business and plan to focus initially on value-added investment opportunities throughout Europe."

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