Kylie Rampa Takes the Reins at QIC

Lendlease investment boss Kylie Rampa has been named as the new chief executive of the Queensland Investment Corporation.

Rampa will depart Lendlease and begin in the role in April 2022, replacing outgoing boss Damien Frawley, a former head of Blackrock Australia and former national rugby union player who has been in the role for the past nine years.

Rampa, who has more than 25 years’ experience in Australian and global real estate, was appointed after a four-month search commissioned by the QIC board and led by executive search firm Egon Zehnder.

Treasurer and trade minister Cameron Dick said Rampa’s appointment was significant—becoming the only Queensland woman to head a major Australian investment manager.

“Kylie has worked for some of the largest companies in Australia as well as a number of postings overseas,” Dick said.

“[She] has overseen some of the most significant developments in the country, such as Barangaroo in Sydney.”

With Lendlease, Rampa has overseen multi-billion-dollar urban regeneration developments including major mixed use precincts, commercial, retail and residential projects; as well as the company’s communities, retirement living and investment management businesses.

Rampa is also the current vice president of the Property Council of Australia, and director at both the National Housing Finance Investment Corporation and Green Building Council of Australia.

Dick said Rampa’s experience in delivering big projects would help Brisbane in the lead-up to the 2032 Olympic Games.

“As we count down to the Olympics, Kylie’s experience leading complex projects and major redevelopments will be invaluable,” Dick said.

“There are opportunities to transform precincts like Roma Street and the Gabba to create a legacy from the Games, and under Kylie’s leadership QIC will make a significant contribution to achieving this.”

Rampa, a Queenslander and former head of real estate advisory at Macquarie and fund manager at AMP, has overseen Lendlease’s property business in Australia for the past five years.

Rampa leaves Lendlease only months after being appointed its group head of investments.

She will now head up 30-year-old group that has $90 billion in funds under management including an extensive real estate investment portfolio and has become a leading long-term specialist manager in alternatives.

It is supported by both the state government, its owner, and Australia’s institutional investment community which allocate it funds, including Future Fund and AustralianSuper.

“QIC plays a critical role for our State and to attract someone of Kylie’s calibre demonstrates the high regard in which the organisation is held,” Dick said.

“Her deep experience in real estate and her broader experience in investment management will ensure that QIC continues to deliver for its clients.”