New Managing Director, Global Real Estate (QIC GRE)

Mr O’Brien’s appointment fills the vacancy created by the retirement of founding QIC GRE team member and long-term Managing Director Steve Leigh, announced in 2018. 

Announcing the appointment, QIC Chief Executive Officer Damien Frawley said: “Following a thorough executive search as part of the planned leadership transition in Global Real Estate (GRE), I am pleased to announce Michael O’Brien as the new Managing Director of GRE. Michael has a distinguished, 30-year real estate career and an impressive record of accomplishment in shopping centre management and development, real estate funds management and finance. His leadership qualities and market acumen will ensure that our real estate platform continues to deliver strong investment returns, building on the outstanding track record of Steve Leigh and QIC GRE.”

Mr O’Brien is currently Chief Financial Officer and former Chief Investment Officer of Vicinity Centres, Australia’s second largest listed manager of retail property, with responsibility for the investment strategy for an integrated asset management platform with some $26 billion in retail assets under management across 62 shopping centres.  

Mr O’Brien has held senior investment and operational roles with Vicinity Centres, GPT Group and Lend Lease Corporation. While at Vicinity Centres, he has been responsible for the organisation’s finance, investment management and capital transactions, as well as its wholesale funds and strategic partnerships business. In his most recent role, he led the investment strategy for a retail portfolio with a significant pipeline of mixed-use development, similar to that of QIC.

Commenting on his appointment, Mr O’Brien said: “I am delighted to join QIC and assume responsibility for QIC’s global real estate platform. It will be a privilege to lead a world-class team of real estate specialists with significant operational and investment management expertise which has delivered strong investment returns for QIC’s clients. QIC’s heritage, track record, and well-deserved reputation among clients and counterparties, provides a strong foundation for future performance through both cyclical and systemic market changes.”

In this key leadership position at QIC, Mr O’Brien will report to QIC’s CEO Damien Frawley, serve on the QIC Executive Committee, and lead a team of more than 500 people globally managing 50 assets. QIC’s real estate portfolio is currently valued at approximately A$22.4 billion (US$15.7 billion) as at 31 December 2018 and is invested on behalf of institutional clients via cross pooled and segregated mandates. 

David Asplin, QIC GRE Chief Operating Officer, has been appointed Acting Managing Director of QIC GRE during the leadership transition.

-      Ends     -

About QIC:
QIC is a leading long-term specialist manager in alternatives offering infrastructure, real estate, private capital, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with A$85 billion (US$60 billion) in funds under management1. QIC has over 1000 employees and serves more than 115 clients. Headquartered in Brisbane, Australia, QIC also has offices in Sydney, Melbourne, New York, Los Angeles, Cleveland, San Francisco, London and Copenhagen. For more information, please visit:

About QIC Global Real Estate:
We own and manage an A$22.4 billion1 portfolio of circa 50 retail and commercial properties across Australia and the US on behalf of our institutional investment clients. Our management and investment approach centres on creating vibrant places at the heart of communities, where people choose to be, and where they feel proud to belong. Places that build local experiences and meaningful relationships; with spaces to support each part of our lives.

1As at 31 December 2018 

For further information, please contact:
Carden Calder
BlueChip Communication 
T: +61 403333904

QIC Limited ACN 130 539 123 (“QIC”) is a wholesale funds manager and its products and services are not directly available to, and this document may not be provided to any, retail clients.  QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (Qld). QIC is regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) (“Corporations Act”). QIC Private Capital Pty Ltd (“QPC”), a wholly owned subsidiary of QIC, has been issued with an AFS licence and other wholly owned subsidiaries of QIC are authorised representatives of QPC. QIC’s subsidiaries are required to comply with the Corporations Act.  QIC does not hold an Australian financial services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. QIC also has wholly owned subsidiaries authorised, registered or licensed by the United Kingdom Financial Conduct Authority (“FCA”), the United States Securities and Exchange Commission (“SEC”) and the Korean Financial Services Commission.
For more information about QIC, our approach, clients and regulatory framework, please refer to our website or contact us directly.

The statements and any opinions in this document (the “Information”) are for commentary purposes only and do not take into account any investor’s personal, financial or tax objectives, situation or needs.  The Information is not intended to constitute personal legal or investment advice and it does not constitute, and should not be construed as, an offer to sell or solicitation of an offer to buy, securities or any other investment, investment management or advisory services.

About QIC

Investment Capabilities

Knowledge Centre

Latest News

About QIC