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Arbuthnot ventures into real estate

Richard Tanner is joining Arbuthnot Banking Group to lead its newest venture, a real estate fund management business.

Tanner has spent the last 15 years working for UBS, where he was the managing director of the UK real estate team. He left the group in May, and UBS has reallocated his responsibilities across the team rather than hiring a direct replacement. Tanner will take up his role at Arbuthnot on September 28.

In a statement to the stock exchange, Henry Angest, the chairman and chief executive of Arbuthnot, said the venture would capitalise on opportunities in the property sector, in line with the groups contra-cyclical investment approach.

Andrew Salmon, the chief operating officer, says: Looking at real estate at the moment, it is depressed, but in the coming months and years there will be extremely good opportunities to invest.

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