Investec Property: Chief executive steps aside

INVESTEC Property Fund chief executive Sam Leon will relinquish his role as chief executive from the end of March and become the non-executive deputy chairman of the listed fund. Investec Property Fund said yesterday that Nick Riley, who joined the fund as part of its executive management team last April and previously spent nine years as a senior investment banker at Investec Corporate Finance, would succeed Leon as chief executive effective from April 1. Leon will continue to be a member of the fund’s investment committee but will resign from its social and ethics committee. Shares rose 3.41 percent to R17.89 yesterday. – Roy Cokayne