James Thornton to step down as CEO of Mayfair Capital
Mayfair Capital Investment Management Limited has announced that its co-founder, James Thornton, will be stepping down from his role as chief executive officer at the end of this year and that Giles King, current Executive Director and member of the UK Executive Board, will be assuming the role of CEO from 1 January 2021.
Thornton will remain with the firm as Non-Executive Chairman of the business whilst also sitting on the firm’s UK Executive Board, Investment Risk and Renumeration Committees. Thornton will also continue to work on Mayfair Capital’s largest mandate, the Property Income Trust for Charities in support of the Fund Director and will be involved in a client relationship and new business role.
Thornton says: “The time is right for me to hand over executive responsibility for running the business. Succession has been a feature of our business planning and I am very confident in the new team. It is four years since we became part of Swiss Life Asset Managers and I have enjoyed managing the business through the transition into being part of a pan European business with a strong commitment and culture in sustainable real estate investment.
“Swiss Life Asset Managers have proved to be excellent owners of the business and assets under management have doubled to £1.84billion since we were acquired in 2016. Swiss Life Asset Managers have also shown a high degree of confidence in making capital available for co-investment so that we have been able to launch new UK and Pan European products. As part of our growth I am pleased that we have also been able to add new, diverse and exciting talent adding to what is already an excellent team.
“I look forward to remaining part of the business and supporting the new management team in continuing to deliver performance for our clients whilst growing the UK business into a larger part of Swiss Life Asset Managers.”
Stefan Mächler, Group CIO of Swiss Life, says: “I wish to thank James for his leadership, as a co-founder of Mayfair he has contributed immensely to its success. I am very happy that James is taking over the chairmanship, under his continued stewardship we ensure a smooth transition and sharing of insights. This is a great example of succession planning and I look forward to working closely with Giles King as the new CEO.”
Giles King, who joined the UK Executive Board of Mayfair Capital in 2018 from Westmount Real Estate, was formerly Head of Investor Relations EMEA for CBRE Global Investors and part of its four-strong EMEA Executive Committee. He also ran the CBRE Global Investors UK Business between 2008 and 2011 and was a member of their Global Executive Committee from 2009 to 2011. During his career, Giles has managed both UK discretionary and advisory pension fund mandates and run commingled UK value-add funds for a range of US and European institutional investors.
Commenting on his appointment as CEO, Giles King, says: “I look forward to working with James in his new capacity and wish him all the best in his new role. James has done a fantastic job in establishing Mayfair Capital as a market leader in thematic and sustainable real estate investment and I, along with the rest of the Mayfair Capital team, remain committed to continuing the expansion of our business both here in the UK and internationally.”