British Land names Oxford Properties' Joanne McNamara chief executive

(Sharecast News) - British Land has named Joanne McNamara as its next chief executive, it was confirmed on Tuesday, the first woman to take up the role in the blue chip's 170-year history.

McNamara is joining from Oxford Properties, a real estate investor owned by Canada's Ontario Municipal Employees Retirement System, where she is currently executive vice president, Europe. British Land and Oxford Properties are joint venture partners on the Leadenhall Building development in the City.

She will replace Simon Carter, who announced in January he was stepping down to head warehouse developer P3 Logistics Park, which is owned by Singapore's GIC.

William Rucker, chair, said: "Joanne is one of Europe's most respected real estate professionals. With her deep expertise of real estate, valuable experience in the world of private capital and a strong reputation for decisive leadership, she is exceptionally well paced to drive the business forward."

Prior to joining Oxford Properties in 2010, McNamara, 44, worked for Hammerson and DTZ.

She is expected to take up the role by November at the latest, after serving out her notice period, and will be paid a base salary of £800,000 per annum. She will also receive a payment of up to £900,000 in 2027, for the lost opportunity of receiving a 2026 annual bonus from Oxford Properties.

British Land, which specialises in London campuses and retail parks, owns and manages a portfolio valued at £15.8bn.

See latest RNS on Investegate

British Land