Partrick Sumner has brought the curtain down on his 17-year Henderson career.
Sumner (pictured), who has headed the firm's global property equities team since 2004 and has 34 years' experience in the sector, will retire from Henderson in June. He was instrumental in the development of Henderson's global, European and Asian property security strategies, which now control a combined $2.7 billion.
Sumner will be replaced by Guy Barnard and Tim Gibson, who become join co-heads of the global property equities team.
Barnard is based in London and has been co-manager of the $1.2 billion Henderson Horizon Global Property Equities fund since November 2008 and manager of the $600 million Henderson Horizon Pan European Property Equities fund since September 2010.
Gibson is based in Singapore and manages the $350 million Henderson Horizon Asia Pacific Property Equities fund.
At the same time, the team has been bolstered by the hire of London-based Nicolas Scherf from Cohen & Steers Capital Management and Singapore-based Xin Yan Low, who joins from Bank of America Merrill Lynch.
'Having been at Henderson for 17 years, launched and grown our global property equities franchise and seen it through a full and, at times, turbulent cycle, it is time to hand over to the next generation,' Sumner said in a statement:
'We have a very talented team, including our associates Harrison Street in Chicago, that I am sure will take the business to new heights. Our new hires will ensure continuity of performance and client service. For myself, this is an opportunity, before it is too late, to fulfil some long-held personal ambitions.'