Agenda item

To elect a Deputy Chairman in accordance with Standing Order 30.

Members were invited to elect a Deputy Chairman in accordance with Standing Order 30. A list of Members eligible to stand was read out and Deputy Alastair Moss being the only Member indicating his willingness to serve was declared to have been elected for the ensuing year.

RESOLVED UNANIMOUSLY - THAT at the conclusion of his term of office as their Chairman, the Members of this Committee wish to extend to

Deputy Michael Cassidy

their sincere thanks and appreciation for the extremely able and competent manner in which he has presided over their deliberations and the detailed interest and commitment he has shown in all aspects of the work of the Investment Committee.

Michael has been an extremely knowledgeable and dedicated Chairman of this Committee’s Property Investment Board. His experience and understanding of investment matters has been a driving force behind a number of successful developments for the City of London Corporation, such as International House and Shoreditch Estate, as well as maintaining and building upon excellent investment fund performance across all estates.

By representing the Committee on the Policy and Resources Committee, Michael has ensured that the City of London Corporation aim to continually improve and develop property investment to benefit residents and City workers as well as the Corporation. Furthermore, he has helped the City Corporation achieve its £200 million contribution to the Crossrail fund, aided significantly by the redevelopment of 100 Cheapside.

He has been a passionate supporter for transformation, including Project Bald Eagle, transferring assets internally, and the proposed re-location of the Museum of London to a larger and more suitable brand-new site at Smithfield Market, which will enhance the surrounding area and greatly benefit the Museum and visiting public alike.

Michael’s guidance and expertise has been instrumental in securing the redevelopment of the London Fruit and Wool Exchange. His contributions have aided a development scheme that will provide state of the art office and retail space in the heart of Spitalfields, creating thousands of new jobs. He has also overseen the development scheme at London Wall Place, which involves the delivery of two landmark office buildings as well as a dedicated open space where historic monuments such as the Roman City Wall and St. Alphage Church Tower will remain.

FINALLY, the Committee wishes to place on record its recognition of Michael’s distinguished contribution to both the Investment Committee and Property Investment Board, in thanking him for his extensive knowledge and experience of investment matters, which has resulted in excellent performance across all investment funds and an abundance of successful schemes during his Chairmanship. His colleagues look forward to his continued contribution to the Investment Committee and Property Investment Board over the coming years.