Intu Properties appoints Robert Allen as CFO

Shopping centre owner Intu Properties has appointed Robert Allen - the former chief financial officer of Crest Nicholson - as its new CFO with effect from 10 June.

Allen was CFO at Crest Nicholson for two years until 2018. From 1998 to 2016, he held a number of senior finance roles at British American Tobacco, including regional finance controller EEMEA from 2012 to 2016 and head of corporate finance and group treasurer from 2009 to 2012.

Chief executive Matthew Roberts said: "I am delighted that Robert is joining us. He will bring to Intu his extensive and highly relevant experience of refinancings, M&A, treasury, IT and investor relations, helping drive our strategy of delivering strong underlying centre performance, adapting to the fast-changing retail environment and making smart use of capital."

Barbara Gibbes, who has been acting as interim CFO, will resume her duties as director of finance with effect from 10 June 2019.

Broker Liberum said Allen's prior experience in refinancing will be of particular benefit in the short term.

"We view this as a positive appointment for the business," it said, adding that Intu’s valuation looks "extremely attractive".