Tony Brown joined M&G Real Estate as chief investment officer and a member of the board, confirmed a spokeswoman for the firm.
Mr. Brown replaces Martin Moore who had a joint role of CIO and chairman and left the firm last year, according to the spokeswoman.
Mr. Brown provides leadership and oversight to the firm's portfolio managers and investment teams across its more than £17 billion ($27.9 billion) of assets under management. He is also accountable for investment performance, alongside the portfolio managers.
He reports to Alex Jeffrey, CEO of M&G Real Estate.
Mr. Brown was previously managing director for Europe, the Middle East and Africa at Lend Lease, where he was responsible for £2 billion of real estate and £2.5 billion of infrastructure assets. A spokesman for Lend Lease declined to comment beyond confirming Mr. Brown's departure.