Grosvenor has appointed James Raynor as Chief Executive of Grosvenor Fund Management (‘GFM’) to succeed Jeffrey Weingarten, who has agreed to join the board of the Grosvenor Group (‘GGL’) as a Non-Executive Director. The changes take effect on 18th June when James succeeds Jeffrey in GFM and Jeffrey is formally appointed to the GGL Board.
James Raynor, joined Grosvenor in 2004 and is currently Chief Investment Officer of GFM, based in London. Prior to joining Grosvenor he spent seven years based in Paris as the Royal Bank of Scotland’s Senior Director of European Real Estate.
Mark Preston, Chairman of GFM and Chief Executive of the Grosvenor Group, said: “I’m delighted to have James taking over the reins to build on the growth strategy we have put in place at Grosvenor Fund Management. His international vision and experience will stand us in good stead. I’m very grateful to Jeffrey for his wise guidance of Grosvenor Fund Management over the past two years and am very pleased he is joining our main Board.”
James Raynor said: “This is an exciting time for Grosvenor Fund Management. We have a number of terrific new initiatives underway across our regions, which will build upon the investment strategies and skills that we have developed over time. We continue to believe that as property specialists we will be able to create good investment opportunities for our clients, as we have in 2012.”
Jeffrey Weingarten said: “I am delighted to retain my connection with Grosvenor whilst handing over the reins in Grosvenor Fund Management. The fund manager’s emphasis on creating value is relevant to all parts of the Group.”
The Grosvenor Group has been investing in real estate in partnership with investors since the 1950s, launched its first fund in 1976 and founded Grosvenor Fund Management as a separate business in 2005. Funds under management totalled £5bn at the end of 2012.
For more information contact:
Naomi Curtis/Sorrel Basher, Press Office
020 7312 6479/6101
Notes to Editors
Grosvenor Fund Management:
Grosvenor launched its first fund in 1976 and formally established Grosvenor Fund Management (GFM) in 2005. GFM offers a range of sector and regional specialist property investment funds which aim to deliver attractive, risk adjusted returns. Operating from offices in China, France, Italy, Japan, Luxembourg, Spain, Sweden, the UK and the USA we employ professionals with local knowledge and skills to execute our investment decisions. As at 31 December 2011, Funds under Management were £5. bn with 69 investor partners in 28 investment vehicles. For further details, please see our Annual Report & Accounts available at www.grosvenor.com .
James joined Grosvenor in 2004 from Royal Bank of Scotland in Paris, where he was Senior Director of European Real Estate. He has risen rapidly in the Group: he joined as a Director; then became Director of Business Development; then took on responsibility for GFM’s Continental European operations; then became head of its capital markets team; and in 2011 became its global Chief Investment Officer, based in London.
Jeffrey began his career at Scheinman Hochstein & Trotta in 1970, before moving to Wertheim & Co. In 1977 he joined Goldman Sachs & Co in New York, becoming Director of Research in London in 1987 and general partner of Goldman Sachs & Co in 1990. From 1991–1995 Jeffrey was the Chief Investment Officer of Goldman Sachs Asset Management International, before returning to International Equity Research as Global Strategist. From 1998–2008, Jeffrey was General Partner and Chief Investment Officer of Buttonwood Capital Partners. He joined GFM as a consultant in 2008 and become Chief Executive in 2011, following a brief period as its Non-Executive Chairman.