L&G's Bill Hughes becomes chairman of the Property Industry Alliance
L&G’S BILL HUGHES BECOMES CHAIRMAN OF THE PROPERTY INDUSTRY ALLIANCE, AS INDUSTRY LOOKS TO STRENGTHEN ITS COLLECTIVE VOICE.
Bill Hughes (photo), Head of Legal & General Investment Management’s Real Assets platform (“LGIM Real Assets”), has been appointed Chairman of the Property Industry Alliance (“PIA”), as it looks to encourage further collaboration across the industry, ensuring that its contribution to the economy and society at large is fully understood and maximised.
Hughes takes over from Sir Robert Finch, who has chaired the PIA for the past five years and who in turn took over from Sir David Clementi. Established in May 2006, the Property Industry Alliance (PIA) is formed of the eight leading UK property bodies who work together to give the commercial property sector a stronger collective voice on issues such as policy, research and best practice.
This appointment comes at a time when the role of the private sector in investing in the built environment has never been more important. Following the progressive retrenchment of the banks in providing long term finance and the continuing indebtedness of the Government, the role of the private sector in partnering with the public sector is becoming ever more crucial to unlocking growth.
The PIA’s work will continue in a number of key areas, including the ‘Vision for real estate finance in the UK’, which is providing guidance to ensure the future real estate lending environment is more stable, and a range of other important areas for the wider industry. More work is being done on the topical issues of devolution of power and its impacts, as well as promoting the importance of the relationship between infrastructure and property as UK cities look to regenerate.
Bill Hughes, Chairman of the Property Industry Alliance and Head of LGIM Real Assets, said: “The Property Industry Alliance plays an integral part in voicing the role that UK commercial property plays in the wider UK economy and its importance in improving the totality of the built environment. I am honoured to be asked to take on the role of Chairman and very much look forward to strengthening that voice.
“In this new role, I am particularly interested in emphasising the cross-sector synergies between real estate and investment in infrastructure in the UK, which is still significantly underplayed. Regeneration has been identified by government and industry alike as one of the key drivers of UK growth and a game-changer in retaining international economic competitiveness. Therefore, it is essential that the property industry joins together in embracing the connection between infrastructure and real estate so that efficient investments can be made into improving the UK built environment.”
Members of the PIA include the Association of Real Estate Funds (AREF), British Council for Offices (BCO), British Council of Shopping Centres (BCSC), British Property Federation (BPF), Commercial Real Estate Finance Council Europe (CREFC Europe), Investment Property Forum (IPF), Royal Institution of Chartered Surveyors (RICS) and the Urban Land Institute (ULI).
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Notes to editors:
The Property Industry Alliance
The Property Industry Alliance (PIA) was formed in May 2006 with a remit to facilitate closer working between the leading representative bodies in the commercial property industry.
The PIA’s terms of reference are:
- To promote co-ordination between member bodies in areas where this would bring some added value.
- To work together to promote a coherent, accurate and well founded view of the UK’s property industry to all stakeholders and to ensure that the contribution of property to the economy, to society and to individual citizens is fully understood.
- To consult between existing members on Government proposal and initiatives and to co-ordinate responses where possible.
- To encourage efficiency and minimise duplication in service provision between existing members.
- To encourage best practice.
- To achieve greater coordination in setting research agendas, to collaborate on research projects where there is mutual benefit and to ensure better dissemination of research findings.
Bill Hughes, Head of Real Assets, LGIM
Bill is Head of Real Assets at LGIM, a role in which he is responsible for the company’s direct investment capabilities in property and infrastructure, comprising Legal & General Property (LGP), its lending arm, Commercial Lending Limited (CLL) and LGIM’s infrastructure team.
Before joining L&G at the end of 2007, Bill previously held the position of UK Head of Real Estate at RREEF, the Real Estate Fund Management business of Deutsche Bank. Prior to that Bill was Deputy Managing Director and Head of Research at Schroder Property Investment Management.
Between July 2012 and July 2015, Bill formed part of the Presidential team of the British Property Federation (BPF), a membership organisation devoted to representing the interests of all those involved in real estate ownership and investment in the UK. He is also a member of the UK Green Building Council’s (UK-GBC) Board of Trustees and the Buildoffsite Executive Group.
In 2014 he was appointed by Sir Michael Lyons to the Lyons Housing Review panel, an independent review which drew up the road map of the changes to housing and planning policies and practice that are required to increasing housing supply to 200,000 homes a year by 2020.
Additionally, Bill attends the Bank of England Commercial Property Forum and the Bank of England Residential Property Forum. He is an Associate of the Society of Investment Professionals and an Honorary Fellow of the College of Estate Management.
LGIM Real Assets:
LGIM Real Assets is a division of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor. LGIM manages £746.1bn in assets on behalf of over 3,100 clients (31 December 2015), providing products and solutions spanning all asset classes. LGIM Real Assets, headed up by Bill Hughes, has an aggregate asset value of £20.4bn (31 December 2015) and is responsible for the division’s direct investment capabilities in property and infrastructure. LGIM Real Assets is made up of three specialist divisions, Legal & General Property (LGP), its property fund management arm, LGIM Infrastructure, its specialist infrastructure lending and investment division, and Commercial Lending Limited (CLL), its commercial lending arm.