Collins new head of Kennedy Wilson's European arm
Irishman Peter Collins is to lead Kennedy Wilson's European operations following the appointment of Mary Ricks as president of the US-headquartered real estate giant's global business.
In succeeding Ms Ricks as president of Kennedy Wilson Europe (KWE), Mr Collins will be charged with directing the company's continuing expansion both here and across the continent.
A former director of private banking and then director of asset management at Bank of Ireland, Mr Collins joined Kennedy Wilson following its acquisition of Bank of Ireland Real Estate Investment Management (BOI REIM) in 2011.
The deal represented Kennedy Wilson's first purchase of an Irish and European business and immediately added some €1.6bn ($2.3bn) of assets to the company's existing €6.5bn ($7.4bn) property portfolio.
Since being established in 2011, Kennedy Wilson Europe has invested more than €9bn in properties in Ireland, the UK, Spain and Italy.
The company's major Irish assets are located mainly in Dublin and currently include the Shelbourne Hotel on St Stephen's Green, the Clancy Quay apartment scheme in Kilmainham and major office developments at the Alto Vetro and Capital Dock in the Dublin Docklands, Baggot Plaza on Upper Baggot Street, and the Vantage and Chase buildings in Sandyford.
The company recently completed the €87.5m purchase of the Elysian Tower in Cork and is in the process of buying City Block 3 (CB3), a 5.91 acre site to the rear of the Central Bank's new headquarters at North Wall Quay.
In terms of his advancement, Mr Collins has enjoyed a steady rise through the ranks of Kennedy Wilson Europe since its inception seven years ago. In 2015, he was appointed to the role of chief operating office, while in 2016, he joined the company's investment management board of directors.
Newly-installed global president, Mary Ricks, said: "Peter has played a crucial role in establishing our Irish business and overseeing our evolution into one of the leading real estate developers and operating businesses in Ireland.
"I am delighted that Peter will step into this new position with support from the high-performing team we have assembled across our European business."
As Kennedy Wilson's global president, Ms Ricks will have continued oversight of the company's European operations as well as responsibility to help grow its investment portfolio.
She will also have responsibility for raising global fee- bearing capital from third parties.