Wednesday 19 June 2024

Sir George Iacobescu to Retire from CWG after 36 years – 19.06.24

  • Sir Nigel Wilson to succeed as Non-Executive Chairman

Canary Wharf Group Investment Holdings plc (“CWG”) announces today that its Chairman Sir George Iacobescu will retire from the Board on Monday 1 July 2024. He will be succeeded by Sir Nigel Wilson as Non-Executive Chairman.

Sir George has been a driving force behind the redevelopment of London’s Docklands since 1988. He became Chief Executive of CWG in 1997 and its Chairman in 2011. He was knighted in 2012 for services to charity, community and the financial services industry, the only Romanian born British citizen to be honoured this way.

Sir Nigel is best known as the Chief Executive of Legal and General, which he led for almost 12 years carving out a reputation as a champion for profitable, sustainable and inclusive growth and for responsible investment and regeneration. Legal and General was voted by its peers as Britain’s Most Admired Company for the last two years and Sir Nigel was previously voted Britain’s Most Admired Leader. He has also held numerous Government policy related roles.

Sir George Iacobescu said: “It has been the honour and the challenge of a lifetime to have worked with an extraordinary group of people transforming a derelict dock into a thriving mixed-use city district. CWG is the first company on the planet to have built an entirely new central business district from scratch.

“Today, Canary Wharf is home to thousands of residents, businesses large and small across many sectors, one of the U.K.’s busiest shopping centres as well as parks, gardens, shops, restaurants and bars. It is a thriving community in the heart of the old East End.

“With the continuing growth of the tech sector, health and life sciences, new leisure activities and the greening of the Wharf, there are exciting times ahead for the estate.

“I am particularly proud of the close working relationship we have had with the local community and the whole of London, helping support local employment and acting as the anchor for the regeneration of East London.

“My enormous gratitude goes to all my colleagues over so many years who have contributed in equal measure to the success of Canary Wharf. I am pleased to be leaving the company under the capable stewardship of Sir Nigel and Shobi Khan. Sir Nigel’s track record at Legal and General is exceptional. I wish him, Shobi, and the leadership team of CWG every success.”

Sir Nigel Wilson said: “For over three decades, Sir George’s visionary leadership, design prowess, and engineering acumen have transformed Canary Wharf into a mini-city that competes on a global stage. I have had the privilege of observing his contribution as a force for progressive change for the UK economy, generating jobs, supporting construction firms and bolstering the wider business community. I am honoured to be stepping into his role as Chair.

“Canary Wharf is becoming a city within a city with approximately 20 million square feet of vibrant space across offices, housing, retail and leisure. Its great transport links are driving record footfall numbers with over 67.2 million visitors last year. I am excited about the opportunity to leverage my experience to support its growth strategy and to collaborate with Shobi Khan, Chief Executive, and his dynamic management team.”

Media Enquiries
CWG: Safina Mirza                                                                      
T: +44 (0)20 7418 2000
e: pressoffice@canarywharf.com

Brunswick: Nina Coad / Paul Durman                                     
t: +44 (0)20 7404 5959
e: CWG@brunswickgroup.com

Notes to Editors

Sir George Iacobescu CBE biography

Sir George has been the Chairman of CWG since 2011. He had first joined the project in 1988 as a Senior Vice President of Construction for the original developer Olympia and York. Previously at Olympia and York he had led the construction and development of many landmark buildings in Canada and the United States including First Canadian Place in Toronto, the Olympia Centre in Chicago and the World Financial Centre.

From 1991, Sir George was Construction Director of CWG and joined the CWG board in 1995 becoming Chief Executive in 1997 and additionally became Chairman in 2011. In July 2021, Sir George moved to Non-Executive Chairman.

With CWG, Sir George has helped develop more than 19.6 million sq ft across office, residential, retail, leisure, and hospitality along with over 16.5 acres of parks and open spaces. In addition to work on the Canary Wharf estate, Sir George also oversaw joint venture projects including the redevelopment of the Shell Centre site on London’s South Bank, Drapers Gardens in the City of London and the iconic “Walkie Talkie” building at 20 Fenchurch Street.

During his career, Sir George has been patron, trustee and advisor to charitable causes, public and industry bodies including the British Museum, London First, Teach First, the Urban Recovery Taskforce and Thames Estuary Growth Commission. Her Majesty QEII gave Sir George a knighthood (KBE) for services to charity, community and the financial services industry in 2012 and a CBE for services to regeneration and inward investment in 2003.

Born in Romania in November 1945, Sir George studied civil and industrial engineering at Bucharest University. From 1969 to 1975 he worked as a structural engineer in Romania before emigrating to Canada. He holds three of Romania’s national honours: Commander of the Order of the Star of Romania; Commander of the Order For Merit; and Commander of the Order of the Crown of Romania.

Today Sir George is Chairman of St John’s Wood Square Development Limited, delivering the redevelopment of the former St John’s Wood Barracks site, and has held advisory roles for international projects such as the Diriyah City project and the Al-Ula project. He is a Member of the Royal Institute of Chartered Surveyors; a Companion of the Chartered Management Institute; vice patron of the Royal British Society of Sculptors. He is a Council Member of the Royal College of Music, Member of the Development Board of the Chelsea and Westminster Hospital. He is a member of the British Museum Major Projects Development Committee, and a Trustee of the Oxford Philharmonic Orchestra Trust.

Sir Nigel Wilson biography

Sir Nigel was Chief Executive of Legal and General from 2012 to 2023, having joined the company in 2009. Sir Nigel was knighted for services to the Financial Services Industry, Regional Development and Sport in the 2022 New Year’s Honours List. Sir Nigel has served on the business councils of successive Prime Ministers. He received a 1st Class Honours Degree and an MA in Economics from the University of Essex and holds a PhD from the Massachusetts Institute of Technology where he was a Kennedy Scholar and a recipient of the Alfred P Sloan research scholarship. Sir Nigel has won several national masters athletics championships.

About Canary Wharf Group:

Canary Wharf Group (CWG) is the developer of the largest urban regeneration project in Europe. CWG develops, manages and currently owns interests in approximately 9 million square feet of mixed-use space and over 1,100 Build to Rent apartments. 

CWG is committed to turning sustainability ambition into impactful action. Examples include purchasing 100% electricity from renewable sources since 2012, our partnership with the Eden Project creating a place for nature and people and working to deliver our Science-Based Target.

CWG has created a 24/7 city where people can live, work and thrive on the Canary Wharf estate and enjoy all the benefits: great transport links, access to 16.5 acres of green spaces and waterside living; and a wide range of amenities including an award-winning arts and events programme. Canary Wharf’s retail offering comprises over 70 bars, cafes and restaurants and over 300 shops, including 8 grocery stores, pharmacies and health clubs all within 15 minutes’ walk. 

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