ASX-listed real estate investor and fund manager, Cromwell Property Group has appointed Michael Foster as company secretary.
Foster takes the role following the resignation of Lucy Laakso.
Cromwell, which has $12 billion in assets under management, swung to a $129.5 million loss in the first half due to a fall in property valuations, while operating profit fell to $87.1 million. It said it will continue to sell off non-core Australian assets as it seeks to reduce debt amid challenging market conditions, on its road to becoming a capital-light fund manager.
