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Stockland appoints Mark Steinert as CEO

Nicholas Grove  |  29 Nov 2012Text size  Decrease  Increase  |  

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Nicholas Grove is a Morningstar journalist.

 

Stockland (SGP) on Thursday said it had appointed former UBS global head of research Mark Steinert as its next managing director and CEO, effective 14 January 2013.

Steinert will succeed Matthew Quinn, who has been managing director since 2000, the diversified property trust said.

Quinn will remain in his position until 11 January 2013 and will provide counsel and support as requested for three months from his end date to ensure a smooth transition to new leadership, Stockland said.

In a statement, Stockland chairman Graham Bradley said Steinert had an extensive background in the property sector and a strong reputation among property investors.

"Providing highly regarded analysis and insights were the hallmark of his early career in the property sector - a background he has built on with extensive experience in senior leadership roles in a large, global organisation," Bradley said.

"His career background will equip him well to provide strategic leadership to our capable executive team and to communicate our strategy and our opportunities to our investors."

Outgoing managing director Matthew Quinn described Steinert as "an excellent choice" and said he had "the right qualities to drive the company's long-term success".

Steinert started his career in real estate with eight years in direct property, primarily with Jones Lang LaSalle, and 10 years in listed real estate with UBS.

In 2012, he was made global head of product development and management at UBS Global Asset Management.