Grosvenor Group, the privately-owned international property company announces the appointment of Robert Davis as its new Group Finance Director, effective 1 June 2019. He will succeed Nick Scarles who earlier this year was announced as the new CFO of the Grosvenor Estate.
Currently the CFO of Grosvenor Europe, Robert Davis joined Grosvenor in 2006 as Finance Director for Grosvenor Fund Management and one of its board members, becoming its CFO in 2011. He later played a key role in transitioning the business’ activities to create Grosvenor Europe, which over the past two years has made a number of direct investments and grown a portfolio which focuses largely on retail and residential properties in Madrid, Liverpool, Paris and Stockholm.
Prior to joining Grosvenor, Robert worked with General Motors where he fulfilled a number of roles within the finance function, including the role of Chief Operating Officer, European Operations for GMAC Commercial Finance Plc.
In the role of Group Finance Director, Robert will be responsible for Grosvenor’s finance function, including the efficient allocation of capital, co-ordination of finance activities of each Operating Company, risk, reporting and internal control. Additionally, he will maintain oversight and responsibility for Treasury, Corporate Finance, Tax, Corporate Reporting, Health & Safety, Digital & IT and the Group-wide aspects of Legal.
As well as being a member of Grosvenor Group’s board, Robert will act as one of the Group’s two appointed non-executive directors on all the Group’s Operating Company boards and as a member of the Group’s Executive and Investment Committees.
As part of the changes, Sebastien Hyest, Grosvenor Europe’s Managing Director, Finance, will succeed Robert as Grosvenor Europe’s CFO. With previous experience at Total in Paris and Brussels, Sebastien joined Grosvenor in 2001, spending three years with Grosvenor Americas as Vice President, Finance, before moving to London in 2011 as Operations Director for Grosvenor Fund Management. Since 2014, Sebastien has been Managing Director, Finance, and has played a leading role in providing financial and transaction support for the Grosvenor Europe business, including being the main investor relationship contact for the Madrid Joint Venture.
Mark Preston, Chief Executive of Grosvenor Group said:
“After successfully succeeding Nick Scarles in 2006 as Finance Director of Grosvenor Fund Management, and accumulating diverse experience since then, Robert has developed into the ideal candidate to succeed Nick once more. It is a career path which demonstrates the strength of our management team and our ability to develop talent from within.
"I much look forward to working with Robert and am delighted to be able to count on his input and support as we continue to develop the business’ commercial activities in properties and places internationally, while delivering benefits to the communities where we are present.
“Our thanks go to Nick Scarles for the outstanding contribution he has made to the business as Group Finance Director over the last twelve years. I look forward to continuing to work with Nick in his new role within the Grosvenor Estate.”
Robert Davis said:
“I am thrilled to have the opportunity to lead Grosvenor’s finance function and to help the business develop the way it operates in order to ensure we deliver on our aims of achieving commercial success and benefiting the communities in which we work.”
Commenting on Sebastien’s Hyest’s appointment as Grosvenor Europe’s new CFO, James Raynor, CEO of Grosvenor Europe said:
“I am delighted to have in Sebastien a ready-made successor. I have worked with him for 14 years and know that his financial experience is ideally suited to the role of CFO and am very much looking forward to working with him in his new capacity”.
For more information contact:
Christian Marroni, Grosvenor Group Communications Director
Direct Line +44 (0) 20 7312 6435
Mobile +44 (0) 7736 383 262
Notes to Editors
About Grosvenor Group:
Grosvenor Group is one of the world’s largest privately-owned property companies. We develop, manage and invest in property in more than 60 cities around the world.
Through the activities of Grosvenor Britain & Ireland, Grosvenor Americas, Grosvenor Asia Pacific and Grosvenor Europe we diversify the Group’s property portfolio by geography, sector, activity, currency and management teams.
Our Indirect Investment business further diversifies the Group’s property interests beyond the expertise and strategies of our four regional Operating Companies. It invests Grosvenor’s capital in Africa, Australia, Europe and North and South America.
Grosvenor Group’s purpose is to deliver lasting commercial and social benefit. To live up to this ambition, for over 10 years we have adopted an approach we call 'Living cities' which aims to guide and inspire our property activities.
Achieving strong commercial returns enables our activities to be enduring. Applying our expertise with a far-sighted perspective to improve properties and places provides a positive impact on communities, neighbourhoods and cities.