Irishman Peter Collins is taking charge of US property player Kennedy Wilson's European business.
The Los Angeles-based real estate group said on Tuesday that Mr Collins is taking over from Mary Ricks as president of Kennedy Wilson Europe. He had been chief operations officer of the same division since 2015.
Ms Ricks becomes president of Kennedy Wilson overall, a newly-created position where she will have continued oversight of Europe, responsibility for growing its investments, and raising capital from third parties.
Based in Dublin, Mr Collins will have responsibility for Kennedy Wilson’s European business and report to Ms Ricks.
He joined the US group when it bought Bank of Ireland Real Estate Investment Management, where he was director of asset management.
As well as being chief operations officer, Mr Collins has been on Kennedy Wilson’s Europe investment board of directors since 2016.
Irish investments
Kennedy Wilson is one of the Republic's biggest property groups. Its Dublin holdings include the Shelbourne Hotel on St Stephen's Green, Clancy Quay in Kilmainham, the Alliance on South Lotts Road, Sandford Lodge in Ranelagh and 1.5 million sq ft of offices.
Recently, it paid €87.5 million to buy the Elysian Tower in Cork from another US fund, Blackstone.
Kennedy Wilson has spent almost €9 billion buying property in the Republic, Britain, Italy and Spain since 2011.
The property investor swooped on Europe at the depths of the recession, picking up assets at low prices.
Ms Ricks helped establish Kennedy Wilson’s European business and oversaw its acquisitions. She is on the company’s board and investment committee.
