M&G has appointed Duncan Batty and Dan Riches as co-heads of the real estate finance team within the £67.2bn ($93bn) private and alternative assets division, replacing John Barakat, who is leaving the business.
Batty and Riches will lead the 17-strong team, originating deals and deploying capital in commercial mortgages in the UK, Europe, and the US on behalf of 100 global institutional investors.
Riches joined M&G in 2010, with Batty arriving one year later. During 2020, the former led on close nearly £1bn worth of transactions.