Friday 23 February 2018

Hibernia seeking executives

Minister for Finance Michael Noonan T.D. with Kevin Nolan, CEO, Hibernia REIT and Deirdre Somers, Chief Executive of the Irish Stock Exchange, pictured at the launch of Hibernia REIT admission to trading in the Irish Stock Exchange in December
Minister for Finance Michael Noonan T.D. with Kevin Nolan, CEO, Hibernia REIT and Deirdre Somers, Chief Executive of the Irish Stock Exchange, pictured at the launch of Hibernia REIT admission to trading in the Irish Stock Exchange in December

Peter Flanagan, Commercial Property Editor

HIBERNIA REIT is planning to hire three senior executives as it beefs up its management team.

The real estate investment trust began trading last year but up to now has had little in the way of a traditional management structure other than managing director Kevin Nowlan.

That will change now, however, and the company plans to hire a chief investment officer (CIO), chief operating officer (COO) and a chief financial officer (CFO).

The firm is thought to have begun seeking a CIO, with the final appointments to be made in the coming months.

Mr Nowlan will remain as managing director, and is likely to be freed up for the more usual roles of a chief executive.

A spokesman for Hibernia REIT declined to comment on the plans.

Hibernia was the second investment trust to launch in Ireland when it listed on the Irish Stock Exchange.

In March it agreed to pay €47m for New Century House in Dublin's IFSC, while it has also done deals to take on some property from Ulster Bank.

Irish Independent

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