Rathbones' Coombs calls for board shake-up at Home REIT

'Fresh pair of eyes'

Rathbones’ head of multi-asset investments David Coombs has called for new non-executive directors to be put in place on the board of the beleaguered Home REIT, to conduct a “thorough review” of the company and put an action plan to shareholders.

Coombs has also called for a new non-executive chair who has previous experience in winding up distressed investment companies and maximising wind up values. "This certainly should not be a shareholder," he told Investment Week. The board at Home REIT is currently undertaking a strategic review, with possible outcomes including replacing Alvarium with a new investment adviser, an orderly realisation of assets, a sale in cash to Bluestar Group and a ‘material change' to the investment policy.  "We would not want a quick knee jerk reaction. Sacking managers, trade sales… We would want a...