Appointment of Bevan Towning as CIO
Trinity Group (ASX: TCQ) announces the appointment of Bevan Towning as the Chief Investment Officer (CIO) of the
Mr Towning's appointment should be read in the context of Trinity's announcement on 26 September 2013 as to its
future direction and business growth plans.
Mr Towning is a highly experienced senior executive with over 30 years experience in both the listed and unlisted real estate investment trust sector.
He has held such positions as the Head of Property at General Property Trust (GPT), Head of Listed Real Estate Funds (Colonial First State Property), Joint Managing Director - Real Estate and Head of Real Estate Funds at Challenger Financial Services Group, General Manager at Grocon Investment Management (Grollo Group), and more recently as the CEO - Capital Partnerships at Mirvac Group.
He has an extensive network of relationships across the property funds management and capital markets (both in the listed and wholesale sectors) which will benefit the Trinity Group. He also has a record of achievement in the establishment of new funds and platforms.
Bevan Towning will be focused upon giving effect to the Board's previously announced strategy that Trinity should now seek to purchase an existing funds management business and / or establish and gradually build up a new funds management business and externally managed investment funds.
Trinity's Chief Executive Officer, Chris Morton said, "We regard Mr Towning's appointment as a very important initial step in achieving the growth of Trinity in our stated timeframes so as to deliver sustainable income distributions to Securityholders from and including the 2015 financial year. Mr Towning's role will be central in the execution and delivery of Trinity's new growth path."
The key terms of Mr Towning's employment agreement as Chief Investment Officer (CIO) are as follows: