M&G Real Estate manages a portfolio of property assets on behalf of retail investors, the Prudential’s UK life insurance arm and large institutions such as pension funds.
It has the strategic ambition to gather increased volumes of funds from large institutional investors, whilst recognising that it needs to transform its culture and capabilities and deepen its representation in the institutional world. It also aspires to undertake much larger transactions, including with co-investors.
OCP assisted the Board in a programme of organisation-wide culture change. We involved more than 80 members of staff in assessing the current culture, values and behaviours.
We helped identify the target behaviours for the future, and the means by which the available organisational levers (including recruitment, organisation restructuring, performance management and reward) could be used in an orchestrated manner to achieve the desired change.
M&G Real Estate is now well on track to achieving its business growth objective.