Real estate investor Michael Lloyd, known for his involvement in the Baneasa project and more recently for setting up Quintet Asset Management, has decided to withdraw from his management position in this latest business and focus on personal projects.
Quintet Asset Management will now be headed by CEO Paul Phillips.
Lloyd, who has been working in Romanian real estate for the last 15 years, has also stepped down from his non-executive director’s seat at investment fund Rutley, bought by Romanian investor Dinu Patriciu.
Lloyd left his executive position with the Baneasa project in 2008, eight years after starting the venture; he then set up Quintet Asset Management to take advantage of opportunities during the crisis.
Before working on Baneasa, he was part of the initial Jones Lang LaSalle team in Romania.