Octopus to merge real estate divisions as property chief departs

Octopus Group will merge its Octopus Healthcare and Octopus Property arms to form a new business, which will have more than £2bn of funds under management. The combined entity, Octopus Real Estate, will be staffed by 110 people and will be led by Benjamin Davis, currently chief executive of Octopus Healthcare. Mario Berti, the current chief executive of Octopus Property, will leave the group following the merger. Davis said: “Consolidating our investment and development expertise into Octopus Real Estate puts us in an even stronger position as we continue our expansion in the real estate sector. I am delighted and excited to be given the opportunity to lead such a great group of people. “I look forward to delivering on our commitments to our existing customers and investors, developing and investing in new properties and healthcare facilities across the UK to provide people with the homes they need.” Octopus’ current real estate product range and fund offers will not be affected by the merger. Berti said: “After nine years at Octopus, most recently as CEO of Octopus Property, I feel now is a good time to move on and look for a new opportunity. “I am immensely proud of everything we have achieved at Octopus over the years and will follow Octopus’ progress keenly. It has been an absolute privilege to have worked with so many talented people and I wish my colleagues all the very best.” Simon Rogerson, co-founder and chief executive of Octopus Group, said: “I would like to take this opportunity to thank Mario for all his support and hard work over the years. He has played an integral role in Octopus’ growth and expansion over the last decade and we are hugely grateful to him for the tremendous contribution he has made.” To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette