Ian Marcus, the respected property investment banker who helped bring REITs to the UK, has joined the board of Piccadilly Basin owner Town Centre Securities.
Marcus spent 32 years as an investment banker latterly at Credit Suisse First Boston, having previously worked for Bank of America, UBS, NatWest and Bankers Trust/Deutsche. He specialised in the real estate sector throughout his time in the City. He joined Credit Suisse First Boston in 1999 to establish its real estate group, and became managing director and chairman of its European Real Estate Investment Banking Group before retiring in 2012. He was part of the group that advised Government and London Stock Exchange on introducing Real Estate Investment Trusts in the UK, a more tax-efficient form of listed property company.
Marcus is chairman of the Prince's Regeneration Trust, a Crown Estate Commissioner, chairman of the Bank of England Property Forum, a member of Redevco's advisory board and the senior independent director for Secure Income REIT. He was appointed as a senior consultant to Eastdil Secured and Wells Fargo Securities in 2013. He is past president of the British Property Federation, and past Chairman of the Investment Property Forum.
TCS also appointed Paul Huberman to the board. He brings 27 years' experience in the property and finance sector. He was previously finance director at quoted property companies Grantchester Holdings and Asda Property Holdings and managed pubs group Regent Inns.
Most recently he has worked with the administrators of the Targetfollow Group in disposing of its property portfolio and the administrators of the Brooklands Hotel (Properties) in operating and selling the Brooklands Hotel. He has also separately advised the directors of Prestige Finance, the second mortgage provider, and the directors of West One Loan, the bridging loan provider, on operating and selling their respective companies.
Both will join in January as non-executive directors.
TCS developed, owns and operates the Piccadilly Basin mixed-use development in Manchester.