Carmel Hourigan has resigned as GPT chief investment officer to become global head of property at AMP Capital, taking responsibility for the company’s $19 billion property investment and management business.
Ms Hourigan replaces Adam Tindall, who will become managing director when Stephen Dunne retires in October.
“I am very pleased Carmel will be joining AMP Capital’s leadership team and heading our significant property business,” Mr Tindall said.
“Carmel is a property investment professional of the highest calibre and is highly regarded by those in the property and funds management industries.”
Ms Hourigan has more than 20 years’ experience in property and funds management, and has held MD, CEO and CIO positions in both public and private markets. She has served in senior positions at Lend Lease, Challenger and Colonial First State, and is currently the vice president of the Property Council of Australia.
“I am excited to be joining AMP Capital, which has a strong heritage in funds management and providing compelling property investment opportunities,” she said. “I was attracted by the strength of the people, platforms and assets and look forward to building upon the underlying quality of the property business and taking it to the next level.”
Ms Hourigan had been tipped to become GPT chief executive before Australand’s Bob Johnston was given the job.
Mr Johnston said Ms Hourigan had been instrumental in GPT’s success over the past three years.
“Carmel has done an excellent job at GPT and this is a great opportunity for her to continue her leadership in the property sector,” he said. “She leaves the company with our support and best wishes.”
Ms Hourigan’s last day in the GPT office will be Friday 18 September, and she will take up the global head of property position in early November.