Prupim, the real estate fund management business of M&G Investments, has appointed Alex Jeffrey as its new chief executive. He is expected to take up his new role in July.

Jeffrey joins from MGPA, the independent private equity real estate investment advisory business, where he has held various senior roles over the past 13 years, including most recently that of global chief investment officer based in Singapore.

Jeffrey will join the main board of M&G Investments and report to Michael McLintock, M&G’s chief executive.

Martin Moore, Prupim's managing director for the past 15 years, will subsequently become chairman of the real estate fund management business to ensure a smooth handover, but has already expressed his intention to retire after 2012.

Prior to joining MGPA, Jeffrey worked in a series of senior investment management and corporate finance roles for Lend Lease Corporation, JP Morgan and HSBC.

MGPA said Jeffrey's duties will be split between Tom Lee, who will move from being Group CFO to Group COO, and Simon Treacy, with responsibility for the capital markets function. Neil Jones, current Group COO, will take on a newly formed role as head of Group Business Development. In addition, Brett Straatemeier, MGPA's Asia COO, is returning to Australia in July from where he will work as a consultant assisting MGPA evaluate opportunities in Australia.