F&C Asset Management is to merge its property business with specialist investment group Reit to creat...
F&C Asset Management is to merge its property business with specialist investment group Reit to create an £8.5bn property company. F&C Reit Asset Management, which focuses on commercial property in the UK and Europe, will be headed up by executive chairman Leo Noe, the current chairman of Reit, with Nick Criticos of F&C becoming chief executive. Under the new deal F&C will own a 70% share and the remainder will be owned by Reit. F&C said this latest move is part of a three-year plan announced in 2007 aimed at generating significant earnings growth from new, diverse revenue streams in h...
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