David Bastian is set to retire as the managing director of Abacus Property Group.
Yesterday, Bastian said that following the recent appointments of several highly experienced senior executives and the completion of one of the group’s most productive years, he felt that the time was right for him to step aside.
Bastian will step down from the board on September 10, 2006.
Bastian was a foundation director when Abacus was established during 1996.
He has played a vital role in the development and subsequent listing of the company in November 2002.
Abacus now has now has approximately $1.4 billion in assets under management.
Dr Frank Wolf will assume the role of managing director from October 01, 2006.
By Adam Parsons
