The Crown Estate names new chairman

London - The Crown Estate, which runs the British monarch’s land and property portfolio, has named Robin Budenberg as chairman, with immediate effect.

Budenberg is a prominent figure from the UK finance sector and is currently London chairman of Centerview Partners and a non-executive director for Charity Bank Ltd and the Big Society Trust. He succeeds Sir Stuart Hampson who retired in January after spending six years in the role.

Commenting on his new role, Budenberg said: “I am honoured to take up the position of chair at The Crown Estate. It is a business which sees the big picture and takes a long-term approach to how it creates value to drive strong returns to the public finances.

“I very much look forward to working with the Board, Alison Nimmo, and her talented team to ensure it remains an outstanding UK success story.”

The Crown Estate manages a 12 billion pound portfolio of properties, focusing on four core sectors: central London; prime retail and leisure assets; rural and strategic land. It was established by an Act of Parliament and it returns all its profit to Treasury, totalling 304.1 million pounds last year and 2.4 billion pounds over the last ten years.