LondonMetric Property Plc (LMP) has announced two Non-Executive Director changes as part of its ongoing Board succession planning. Heraclis Economides, a qualified chartered accountant with 30 years of investment banking experience, will join the Board as an Independent Non-Executive Director from 1 January 2027. Separately, Suzanne Avery will retire from the Board on 22 March 2027 after nine years of service. The changes signal a planned evolution of LondonMetric's governance structure at a time when the UK-listed real estate investment trust continues to attract institutional attention.

Key Points

  • LondonMetric Property Plc (LMP), a UK-listed real estate investment trust focused on logistics and long-income property
  • Heraclis Economides appointed as Independent Non-Executive Director, effective 1 January 2027
  • Suzanne Avery to retire from the Board on 22 March 2027, concluding nine years as a Non-Executive Director
  • Investors may watch how Economides's capital markets expertise shapes future M&A and fundraising activity

Heraclis Economides Brings 18 Years of Deutsche Numis Property Sector Expertise to LondonMetric Board

The announcement states that Heraclis Economides spent 18 years at Deutsche Numis, where he served as Managing Director of Investment Banking and led the firm's Building, Property and Real Estate sector team. In that role, he provided M&A and capital markets advice to a number of UK-listed companies. Prior to Deutsche Numis, he held the position of Managing Director for equity capital markets at HSBC, and earlier in his career worked at Coopers & Lybrand. He is a qualified chartered accountant, adding financial reporting credentials to his transactional background. His appointment takes effect from 1 January 2027.

Board Succession Planning Cited as Driver Behind LondonMetric's Latest Governance Changes

Chair Alistair Elliott described the appointment as part of LondonMetric's "ongoing Board succession planning," indicating the changes are structured rather than reactive. Elliott's statement, included in the announcement, expressed confidence that the company will benefit from Economides's significant investment banking experience. LondonMetric, which invests in UK logistics, urban logistics, and long-income assets, has expanded considerably in recent years, and board-level expertise in capital markets and real estate M&A may be relevant as the company continues to manage and develop its portfolio strategy.

Suzanne Avery to Retire After Nine Years of Non-Executive Service to LondonMetric

The announcement confirms that Suzanne Avery will retire from the LondonMetric Board on 22 March 2027, bringing to a close nine years as a Non-Executive Director. Chair Alistair Elliott thanked Avery for her service and wished her well in her retirement. The company stated that there is no additional information required to be disclosed pursuant to UKLR 6.4.8, indicating a standard, fully compliant transition. No details regarding Avery's committee responsibilities or her successor for any specific committee roles were included in the announcement.