AMP Capital global head of real estate Carmel Hourigan has resigned from the funds manager after five years, signing on with competitor Charter Hall to head the group's $17.4 billion office portfolio.
Hourigan was responsible for AMP Capital’s $29 billion property investment and management business, and will now replace office chief executive Adrian Taylor at Charter Hall.
The announcement coincides with a major reshuffle of responsibility at AMP Capital since the controversial appointment of chief executive Boe Pahari in June.
Along with Hourigan, acting CFO and COO Adrian Williams, head of people and culture Madeleine Mac Mahon and US-based global head of infrastructure debt Andrew Jones also left the business.
Charter Hall group chief executive David Harrison said they welcomed Hourigan’s leadership and 28 years experience in the industry to complement their executive committee.
“The diverse sector experience and leadership roles Carmel has played will be invaluable in supporting the growth of Charter Hall, as we continue to strive for outperformance and excellence on behalf of investors and shareholders,” Harrison said.
AMP chief executive Boe Pahari said the company was developing a new strategy to be announced in August as part of its half yearly results.
“We are drawing on the talents within our business and seeking to bring a diversity of views to the leadership group,” Pahari said.
“This group will develop and execute AMP Capital’s new strategy.”
The departures at AMP Capital made way for the appointments of Patrick Trears as global head of infrastructure debt and Tim Smith as head of international distribution, with Aideen O’Donovan and Simon Joiner taking over from Williams; Simon Ellis appointed head of Americas; Matt Evans and Ruben Bhagobaiti appointed co-heads of Europe and Lisa Hurley and Lauren Crystal taking over from Mac Mahon.