QIC appoints MD Global Real Estate

Brisbane-based global diversified alternative investment firm, QIC, has announced the appointment of Michael O'Brien as its incoming managing director, global real estate (QIC GRE).

O'Brien's appointment fills the vacancy created by the retirement of founding QIC GRE team member and long-term managing director, Steven Leigh.

Commenting on the succession, QIC chief executive officer, Damien Frawley, said: "Following a thorough executive search as part of the planned leadership transition in Global Real Estate (GRE), I am pleased to announce Michael O'Brien as the new managing director... Michael has a distinguished, 30-year real estate career and an impressive record of accomplishment in shopping centre management and development, real estate funds management and finance."

O'Brien is currently the chief financial officer and former chief investment officer of Vicinity Centres, Australia's second-largest listed manager of retail property. Previously, he served in senior investment and operational roles with GPT Group and Lend Lease Corporation.

In his new role, O'Brien will report directly to Frawley, serve on the QIC executive committee and "lead a team of more than 500 people globally managing 50 assets," QIC said.

David Asplin, who was promoted to QIC GRE chief operating officer in July 2018, has been appointed acting managing director during the leadership transition.