Grainger picks new chair designate

Grainger has picked a new chair designate to replace Mark Clare next year.

Simon Fraser has been appointed to the board as a non-executive director and will take over from Clare when his nine-year tenure comes to an end next February.

Grainger is the biggest listed residential landlord and a major build to rent operator. Its latest half-year results, published in May, showed group revenue increased to £136.4m from £113.7m, while pre-tax profit stood at £74m, after a loss of £31.2m in the same period the year prior.

Fraser’s appointment to the board will take effect from 1 October 2025 and, subject to election at the 2026 AGM, will take over as chair.

He has more than 13 years of FTSE board experience with SEGRO plc and Derwent London and is currently chair of the remuneration committee at the former.

He is also senior independent director at St James’s Place, and served in the same role at Derwent London between 2015 and 2021.

He was also on the board of Legal & General Investment Management from 2015 to 2024 and Lancashire Holdings from 2013 to 2023.

Before retiring from executive roles in 2011, he worked at Bank of America Merrill Lynch as managing director and co-head of corporate broking.

Helen Gordon, chief executive of Grainger, said: “We are very pleased to welcome Simon Fraser to the Board. Simon has a deep understanding of both the real estate investment market and the global capital markets. 

“With Grainger’s excellent operational track record in a strong, growing market, Simon’s experience will help us continue on our plans to deliver compounding earnings growth as we enter our first financial year as a REIT.”