ISPT CEO to step down

The super fund-backed property group ISPT announced that chief executive Daryl Browning will step down after 17 years at the helm.

ISPT chair Rosemary Hartnett said the board together with Browning and his leadership team, have reviewed the fund's corporate strategy for the next five years and believes it is the right time for him to hand over to a new chief to take ISPT through its next phase of growth.

Under Browning's leadership, ISPT has grown from having some $2 billion of property assets under management to nearly $20 billion today, with 140 properties across the country.

"Daryl has not only led this incredible growth and delivered sustained risk-adjusted returns for our investors, but successfully navigated the GFC and, more recently, the COVID-19 pandemic," Hartnett said.

"Daryl understands the property market intimately and this has allowed ISPT to anticipate obstacles and capitalise on opportunities.

"Most of all, Daryl has earned the trust and confidence of our investors, employees, board members, partners, and service providers," she said. "He not only keeps our purpose front-of-mind every day, but he lives and breathes it."

Browning said a highlight of the job was working with the founding members of the Property Male Champions of Change which aims to bring about change gender equality in a male-dominated industry.

Hartnett said a search was underway for Browning's successor.

"I look forward to the next phase of my professional life and observing ISPT's continued success," Browning added.