LONDON-UBS Global Asset Management has recruited three former members of the European investment division of Lend Lease. The recruitment drive forms part of a plan to launch “several” European real estate funds in addition to existing ones in the UK, US and Japan.

The new recruits are ex-chief executive Charles Foster Taylor, Simon Foxley and ex-head of capital raising Mark Chamieh. The three men had been made redundant by Lend Lease in June as part of a strategic review at the Australian company. Now UBS hopes they will help spearhead a new open-ended euro real estate fund in the near future and manage existing assets.

UBS also plans to launch “a number of closed-end investment vehicles” pitched at the European institutional market. Foster Taylor will head UBS Global Asset Management’s acquisition and disposal operation, with Foxley serving as senior portfolio manager and London-based Chamieh becoming head of institutional marketing and business development.

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