Warwick Negus will become the new chair of Dexus Funds Management next month following the retirement of Richard Sheppard, a former Macquarie Group chief.
Negus has been a member of the board since January 2021.
His most recent executive roles include chief executive of Colonial First State Global Asset Management, chief executive of 452 Capital, and Goldman Sachs managing director in Australia, London and Singapore.
As for non-executive positions, Negus is chair of Pengana Capital Group and a non-executive director of Washington H. Soul Pattinson and Bank of Queensland.
The Dexus board acknowledged Sheppard's "significant contribution" since he joined the board ten years ago.
Today Dexus manages over $44 billion of assets across a diverse pool of vehicles in traditional real estate sectors as well as healthcare, real estate securities and opportunities funds.
"Since my appointment as a director nearly 11 years ago, Dexus has refocused its strategy, divesting its exposure to offshore properties and reinvesting in high-quality assets in Australia's major cities where we have strong expertise and high-quality customer relationships," said Sheppard.
"Succession planning has been an important focus for the board for some time, and I am pleased that Warwick Negus will succeed me as chair.
The outgoing chair said Dexus' next phase of growth will be underpinned by the acquisition of the AMP Capital real estate and domestic infrastructure platform, which will add a further circa $18 billion of assets and expand Dexus's offer in the growing infrastructure sector."
Sheppard acknowledged the support he received from his fellow directors and from Darren Steinberg and his team.
Negus added: "Richard Sheppard leaves Dexus well positioned for the future, and we thank him for his significant contribution. I look forward to leading the board as it commences its next phase of growth."