The simplest way to explain our structure is to see it as having three levels: the Trustees of the Grosvenor Estate (the shareholders); the Group (the Holding Company); and the businesses within the Group (our operating companies and our indirect investments portfolio). Each devolves specified matters to the next level down.
Grosvenor is privately owned. The Trustees of the Grosvenor Estate are our shareholders. They hold the shares and assets of the Group for the benefit of current and future members of the Grosvenor family. There are six Trustees : the Chairman, the Executive Trustee and four other Trustees.
Grosvenor Group Limited is the company established by the Grosvenor Trusts as the holding vehicle for the Grosvenor Estate’s urban real estate interests. The Group has a Board of nine members. The seven Non-Executive Directors include the Executive Trustee and two other Trustees, one of whom is the Chairman. The two Executive Directors are the Group Chief Executive and Group Finance Director.
The Group Executive Committee is a sub-committee of the Grosvenor Group Limited Board and the Holding Company.
The businesses within the Group
There are two main areas of business:
Direct investment through our four regional Operating Companies: Grosvenor Britain & Ireland, Grosvenor Americas, Grosvenor Asia Pacific and Grosvenor Europe. These are the companies through which Grosvenor makes direct investments in real estate. Each has control over its own balance sheet.
Indirect Investment; this portfolio is managed by the Holding Company. It makes indirect investments in real estate through investing with third-party management teams.