Cromwell appoints Jonathan Callaghan as new CEO

Cromwell appoints Jonathan Callaghan as new CEO

Cromwell Property Group has appointed Jonathan Callaghan as its new chief executive officer (CEO).

Jonathan Callaghan is an Australian property and funds management veteran who spent 14 years at Investa Property Group.

Before being appointment as their CEO in 2016, Callaghan fulfilled a number of leadership roles including as its Joint Managing Director and Finance Director (from 2013) and as General Counsel and Company Secretary when he commenced at the company in 2006.

His career at Investa included overseeing the management of highly acclaimed Investa Commercial Property Fund, which at the time of his departure was the top performing core office fund over a two, three, five and seven year time horizon.

Callaghan was also responsible for the sale of the Investa office funds management business to the Investa Commercial Property Fund.

During his tenure and under his leadership, Investa was widely regarded as an industry leader and was recognised in the Australian Financial Review BOSS Best Places to Work list for 2021 in property.

Callaghan was recently a Director of the Property Council of Australia, and is a founding member of the Property Male Champions of Change.

Cromwell Chair Gary Weiss AM said: “After an exhaustive search, we are delighted to appoint such an outstanding and highly respected industry leader in Jonathan Callaghan as Cromwell’s CEO.”

“The Board has full confidence that Jonathan’s strategic and operational management capabilities are the right fit to grow Cromwell’s position as a leading property investment and funds management company.”

“Jonathan’s track record in creating value for investors at Investa was industry leading. His strong property funds management experience, coupled with his proven ability to source and deploy capital, will be critical to Cromwell’s strategy of accelerating growth in its funds management businesses.”

“We are particularly pleased that Jonathan comes to Cromwell with a solid background in office property which makes up the vast majority of our Australian direct property portfolio and our $1bn development pipeline.”

“We look forward to Jonathan joining Cromwell where he will work with the Board, executive leadership and the wider team to lead the implementation of our long-term strategy to grow Cromwell’s funds management businesses. Under his leadership, we will further refine Cromwell’s strategy and our key growth priorities,” added Dr Weiss.

Callaghan said: “It is an honour to be joining Cromwell, a company with a strong heritage in the property and funds management industry. There is enormous potential at Cromwell and I look forward to working with Gary, the Board and the Cromwell team to unlock value across the company’s direct property investment portfolio and to grow Cromwell’s funds management businesses.”

The appointment of Mr Callaghan further strengthens Cromwell’s executive leadership capabilities including Michael Wilde and Brett Hinton, who stepped up as Acting CEO and Acting Chief Financial Officer (CFO) respectively and will resume their previous roles following Mr Callaghan’s commencement.

Weiss concluded: “I would also like to take this opportunity to thank Michael Wilde and Brett Hinton for stepping into the roles of Acting CEO and Acting CFO respectively during the search process. Their dedication and commitment to Cromwell has been exemplary and a great testament to Cromwell’s values.”