Lendlease names new investment management chief

Lendlease has announced a change in its investment management division, which will see chief executive investment management Justin Gabbani depart the company for external opportunities in Singapore.

Current chief investment officer Penny Ransom will assume the role of chief executive investment management on July 1.

Ransom joined Lendlease in 2022 as group head of investments and was appointed chief investment officer in July 2024, with responsibility for capital allocation, as well as global capital raising and product development.

She has more than 30 years' experience across institutional real estate, transactions and investment management, including chief investment officer at Investa Property Group, and senior positions at Dexus.

Ransom's appointment follows Gabbani's decision to pursue an external opportunity which allows him to remain in Singapore with his family, Lendlease said.

He has held senior leadership roles across investment management, finance and regional segments in Australia, Asia and Europe.

Commenting, Lendlease group chief executive Tony Lombardo said Ransom is well positioned to lead its international investment management business.

"Penny has been instrumental in strengthening Lendlease's capital position and sharpening our investment strategy. She brings deep global investment management experience, strong investor relationships and a disciplined approach to driving performance," Lombardo said.

"Her appointment provides continuity and momentum as we continue to execute our strategy, deepen investor relationships and drive performance across our international investment management business.

"I would like to thank Justin for his significant contribution to Lendlease over more than two decades and wish him success for the future."