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PRADERA NAMES DAVID FLETCHER AS CHIEF EXECUTIVE

Pradera, one of Europe’s leading specialist retail property fund and asset managers, today announced the promotion of David Fletcher to Chief Executive.

Fletcher, formerly Managing Director, has been with the company for almost 15 years and has been responsible for a number of major initiatives including the recent joint venture with Macquarie to provide asset management services in Asia.  His new role, effective immediately, reflects Pradera’s continuing evolution.  He remains a Board Director of the company.

Colin Campbell, who confirmed that he will continue as full-time Chairman of Pradera, said: “David’s appointment marks the successful conclusion of the succession planning that began with the sale of Paul Whight’s shareholding in April 2015 and continued with the arrival of LJ Partnership as a significant minority shareholder at the end of May 2016.  David has been a loyal colleague over the past 15 years and a real pleasure to work with as part of the senior management team.  I know that, under David’s day-to-day leadership, the prospects for the Company and for the future performance we can deliver to our clients are in the very best hands.”

Fletcher joined Pradera in early 2002 and has been responsible for leading many of the Company’s step changes, including the opening of asset management offices in Italy, the CEE and Turkey and the creation of the Pradera Central & Eastern Fund.  In 2008, he moved to Hong Kong and was, until March 2011, the Chief Executive of Pradera Asia.

Fletcher said: “This is an exciting time for Pradera and I am proud to have been a part of it over the last 15 years. I am looking forward as Chief Executive to taking our tried and trusted approach in the retail property market into other parts of Europe, Asia and beyond’.  Earlier this year, Pradera announced a significant minority investment by Private Wealth Partnership, LJ Partnership.  Speaking in April, Fletcher said the deal represented the ‘real potential for growth in geographic regions and market segments previously untapped by Pradera’, including the family office market which would supplement but not compete with the Company’s historic, strong, institutional client base.

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Ragusa: Ibleo Shopping Centre