The real estate recruitment market is becoming increasingly global.
Australian investment bankers with property funds management and asset management expertise are currently hot property in both the UK and US. Meanwhile, property specialists are also in huge demand in Australia.
“People are exporting their talent to both the UK and US markets,” says Bob Atkins of Property Recruitment Australia. “Australian markets have outperformed both those markets substantially, so the skill base here is seen as quite substantial and a lot of people have exported their skills to those places.”
Macquarie Bank’s real estate business, Macquarie Real Estate Capital, is known to be hiring new staff in London as part of its expanding focus in Europe.
Coming the other way, Goldman Sachs JBWere has recently hired some property specialists from the UK, although Atkins says it’s typically the other way around, given Australia’s strong reputation.
Atkins says that, depending on the intensity of the property portfolio and the management required, “You wouldn’t get much of a skill experience base below AU$150k and it may go as high as AU$200k” before bonuses.
Anthony Ayers, principal consultant at Chandler Heath Executive Recruitment, agrees that property and infrastructure investment bankers are popular people right now: “This has extended beyond investment banks to funds that have acquired global portfolios of infrastructure assets. Australian firms including Macquarie, Babcock & Brown, and Colonial have been very active and are effective players across the globe.”