Privately owned property company Grosvenor, has appointed Jeffrey Weingarten as the new chief executive of Grosvenor Fund Management, succeeding outgoing Stuart Beevor.
Previously a consultant to the business, Weingarten (pictured) joined the company as non-executive chairman in September 2010. Between 1991 and 1995, he had served as the US chief investment officer at Goldman Sachs Asset Management. Outgoing Stuart Beevor joined Grosvenor in 2002, and was involved in the formal establishment of the GFM in 2005.
Grosvenor also made two other changes. GFM director for Continental Europe James Raynor was appointed the new chief investment officer. Further, the finance director, Robert Davis will become the chief operations officer. According to the company statement, all the appointments would be effective from 17 March 2011.
Grosvenor chairman, Mark Preston said in a statement: "Together, these three appointments will ensure we have a first-class executive team in place to continue growing Grosvenor Fund Management."
Grosvenor is 100% privately owned, through various Grosvenor trusts established for the current and future members of the family. It is currently headed by the 6th Duke of Westminster, one of the UK's wealthiest individuals and biggest land owners.
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