M&G Real Estate has promoted Alexander Banzic to head of Australia as the firm looks to expand its presence in the country’s real estate market.
Banzic previously served as director, asset management for M&G Real Estate in Australia.
Before that, he held senior positions at DWS Group’s real estate team in Australia, KordaMentha and EG Funds, including a secondment to Westpac Bank.
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He will be based in Sydney and report to Jing Dong (JD) Lai, chief executive and chief investment officer, M&G Real Estate Asia.
M&G Real Estate, which is part of the asset manager’s £73.4bn private markets business, noted the “compelling investment proposition” that Australia’s real estate market presents. Australia’s strong population growth and increased number of international students have led to a surge in demand for housing and had a ripple effect across other related sectors, the firm said.
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“We are delighted to promote Alex to lead our real estate team in Australia, demonstrating the strength and depth of our internal talent,” said Lai.
“His extensive industry experience, combined with his proven leadership, will be invaluable as we further our growth in this key market. M&G’s robust performance in Australia has solidified our status as a top institutional investor and we look forward to continuing to play a role that benefits the local economy and society.’’
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Banzic said: “I am honoured to lead M&G Real Estate’s team in Australia. Leveraging our robust platform and dedication to excellence, we aim to significantly enhance our market position, striving towards becoming the premier institutional real estate investor in Australia.”
