ONE of the driving forces behind Trinity Leeds, Richard Akers, is to leave Land Securities in order to take on a number of smaller roles.
Mr Akers, who played a major role in the success of the landmark £350m Trinity Leeds development which is now 96 per cent let, will leave at the end of the financial year on March 31.
He departs after nearly two decades with the firm during which time he substantially re-shaped the group’s retail portfolio.
Richard Akers said: “I have had a wonderful and successful career at Land Securities and I am delighted that our achievements include great developments and the nurturing of a talented team.
“The business is in excellent shape and has a strong pipeline of leadership for the future. From a personal perspective, now is the right time for me to move on and fulfil my plan to diversify my interests into a portfolio of roles.”
Mr Akers joined Land Securities in 1995 and was appointed to the board in 2005, initially as managing director of its retail portfolio.
Under his leadership, the company formed strong relationships with retailers and has been a driving force in the retail property sector. The group’s portfolio has outperformed the index for retail property in the UK.
Robert Noel, the group’s chief executive, said: “Richard has made an outstanding contribution to Land Securities during his time in the business.
“He has been unrelenting in driving the company forward and his experience and counsel have been invaluable. I wish him all the best for the next stage in his career.”
Mr Akers’ position as executive director will not be replaced directly at board level. Land Securities will instead establish an executive committee to oversee the company’s operations, consisting of the chief executive, the chief financial officer, the general counsel, the human resources director and two new roles, managing director, retail portfolio and managing director, London portfolio.
Scott Parsons, who has been head of property in the London portfolio since 2010, has been appointed managing director, retail portfolio. He has previously held leadership positions at GE Capital, Brookfield Asset Management and Lloyds Banking Group.
Colette O’Shea, currently head of development in the London portfolio, has been appointed managing director, London portfolio. She joined Land Securities in 2003 and is responsible for delivering the company’s extensive development programme in London including the transformation of Victoria, SW1. Prior to joining Land Securities she was head of estates at The Mercers’ Company.
“Scott and Colette are both outstanding leaders and the appointments demonstrate the strength of talent at Land Securities,” said Mr Noel.
Richard Akers will remain in post until the end of the current financial year to ensure a smooth transition of his responsibilities.