Ivanhoé Cambridge announces today that it is regrouping its activities in France, Spain, United Kingdom and Germany under the banner “Ivanhoé Cambridge Europe”. This reorganization is part of a business strategy that began in the spring of 2011 with the consolidation of its subsidiaries, SITQ and Ivanhoe Cambridge.
“The creation of Ivanhoé Cambridge Europe enables us to better leverage our investment expertise and our operational excellence, which puts us in an ideal position to maximize investment opportunities within Europe,” said Daniel Fournier, Chairman and Chief Executive Officer at Ivanhoé Cambridge.
Méka Brunel, Executive Vice President, Europe, will head Ivanhoé Cambridge Europe and will be supported by the following management committee:
Claude Dion, Senior Vice President, Asset Management, Europe, will oversee asset management within the office and shopping centre portfolio by January 2012.
Michel Cyr, Senior Vice President, Development, Europe will oversee all retail and office development activities by January 2012.
Arnaud Malbos, Vice President, Investments, Europe will be responsible for investments within the office and shopping centre portfolio.
Grégoire Peureux, Vice President, Finance, Europe will be responsible for all activities related to finance.
Frédéric Vern, Director, Legal Affairs, Europe will be responsible for all matters pertaining to legal affairs.
“This regrouping makes us a major real estate player in Europe,” noted Méka Brunel, Executive Vice President, Europe. With over 80 employees, Ivanhoé Cambridge Europe owns a portfolio of 14 properties totalling 384,000 square metres (4.1 million square feet) of office space and 7 shopping centres. Its assets reached €4,858 million (CDN$6.475 million) as at December 31, 2010. « I am particularly proud of our team. The depth of our combined expertise speaks to our commitment to the European market,” she added.