Savills Investment Management has named Michael Flynn as its new chief executive for Asia Pacific, as part of a flurry of senior level moves at the international real estate investment manager.
In his new role, Flynn, who formerly served as head of the company’s business in Southeast Asia and Australia, will be reporting to Savills Investment Management’s global CEO, Justin O’Connor.
The appointment comes as the real estate investment manager ramps up its presence in the region after acquiring SEB Asset Management last year, which had significant operations in Singapore. Savills IM has recently announced a new Japan fund and earlier this year revealed plans for a billion dollar Asia core-plus fund.
Flynn Part of a New Leadership Team
The promotion of Flynn, who has been with Savills Investment Management since 2007, comes as the company also puts in place new leadership in Europe.
In the same announcement last week that revealed Flynn’s new role, James Bury was introduced as Savills IM’s new CEO for Europe, and the company also announced the appointment of Thomas Guetle and Axel Kraus as co-heads of its much expanded German business, following the acquisition of Germany-based SEB.
“Over recent years we have benefited from strong growth in Europe and Asia,” O’Connor said of his new team. “Along with the recent senior hires of Neil Varnham and Richard Gore, and the appointment of Richard Lake as Global Head of Investment Risk, these executive appointments mean that Savills IM has a highly experienced leadership team to continue our global expansion.”
In this region, Savills IM brought on board former Morgan Stanley executive Craig Pearce last September to serve as its head of asset management for Asia. Former SEB regional head Choysoon Chua left Savills IM following the merger and joined developer Wing Tai Holdings in February this year to lead its newly-established fund management unit.
More Funds, More Offices
This new leadership team will be managing an expanded platform after O’Connor revealed last week that Savills Investment Management is planning a second Japan fund and new offices in Shanghai and Sydney.
The new Japan-focused fund comes as Savills IM continues to raise money for its Greater Tokyo Office Fund. That vehicle reached a first close of $120 million in August last year, and is expected to have raised around $250 million by this November, according to statements by O’Connor to the European media.
Plans for this second Japan fund come after Savills revealed in January that it will attempt to raise a billion-dollar Asia core-plus fund, Savills IM Asia Fund 3, which is expected to be launched in the second half of this year.