Andrew Allen rejoins Savills IM as head of product strategy and development
13 January 2021
Savills Investment Management (Savills IM), the international real estate investment manager, has appointed Andrew Allen in a new role as head of Product Strategy and Development. Andrew worked for Cordea Savills (now Savills IM) as head of Research & Strategy from 2004 to 2010.
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In this role, Andrew will lead Savills IM’s new product activity globally and will directly oversee product delivery in Europe. He will also work closely with Research & Strategy as well as industry teams across the Savills group on thought leadership initiatives and product innovation.
Based in London, he will report to Alex Jeffrey, global chief executive, and will join the Global Executive Committee.
Andrew joins Savills IM from Aberdeen Standard Investments, where he held several senior roles and was most recently global head of Investment Research, Real Estate. He also worked for Stifel (formerly Oriel Securities) in real estate securities research.
Alex Jeffrey, Global Chief Executive, Savills IM, commented:
“Andy is one of the real estate industry’s leading thinkers on investment trends and we are delighted to have him back in our team. His strategic expertise will strengthen our ability to identify and serve investors’ needs, assess opportunities in the real estate markets, and articulate specific product solutions that will deliver resilient risk-adjusted returns in the midst of the COVID-19 pandemic and beyond.”
This business expansion leads to a refocusing of the senior team, with James Bury taking on the role of head of Operations, overseeing technological change projects that impact all investment and client-facing activities. Scott Simpson will become head of Corporate Finance. Prior to this they were head of Product Development and head of Finance and Operations, respectively.
Alex Jeffrey added:
“We are extremely proud of the team’s recent success against the most challenging of backdrops. 2020 was a very active year in terms of transactions, capital raising and new product development. The expansion and refocusing of our senior team will enable us to build further on this success in 2021.”
James Bury oversaw Savills IM’s product development function during the recent period of successful progress, including launching a number of new discretionary funds with strong growth potential. Following its launch in late 2019, the Savills IM European Logistics Fund 3 has raised over EUR 375 million in equity. Another pan-European logistics investment fund, VESALF I, was launched in partnership with Vestas Investment Management in late 2020 – among the first ever ‘blind’ funds raised solely from Korean institutional investors to invest in European real estate. The Japan Value Fund II achieved its final close in early 2020, raising over USD 500 million, and the Japan Residential Fund II achieved its first close last autumn at USD 200 million (JPY 21.1 billion), representing Savills IM’s first open-ended core fund for Asia.
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