Sydney-listed Valad Property Group has appointed Clem Salwin as acting CEO with immediate effect. The appointment follows the receipt of an indicative, incomplete offer in mid-December for Valad's European business from a consortium of Valad management personnel, including managing director Peter Hurley. As a result of his involvement in the MBO proposal, Hurley has, by agreement, taken a leave of absence and is currently utilising his entitlements to annual leave.

Salwin has more than 20 years experience in real estate investment, funds management and investment banking. He most recently held the position of co-head of the UBS real estate investment banking business in Australia. Prior to that he was responsible for the property funds management business of BT Funds Management, which at the time, was one of the largest property funds managers in Australia. Salwin holds a BA (Honours) majoring in economics/finance from the University of Sydney.