Richard, who previously held the role of Head of Investment, Europe for Savills IM, will continue his chairing of the firm’s key transaction advisory committees, while taking responsibility for ensuring the highest governance standards across the business. In particular, he will oversee how the firm manages investment risk across the organisation.
Justin O’Connor, Chief Executive Officer at Savills IM, commented: “In the world of real estate investing, the practice of identifying and analysing potential risks and taking steps to mitigate them is a vital part of good risk management. This approach not only protects investment performance but on many occasions adds to outperformance. This reflects the evolution in our company and our approach to risk management, and one that I know Richard is well placed to drive forward.”
Richard Lake added: “Our investment activities have increased significantly over recent years. We have seen significant growth and added new funds and mandates which has led to increased numbers of transactions and investment committee meetings. The nature of acquisitions is also diversifying, with not only core/core plus investing but also value add and opportunistic profiles. In addition, our geographic scope has increased to include a wider European base and a growing Asian market. It is vital that the way we manage risk evolves in line with these developments. We are taking a best practice approach to risk assessment, so it becomes integral to our investment process.”
Citigate Dewe Rogerson
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