Ian Mattioli, CEO of Leicester-based wealth management firm Mattioli Woods, is stepping down from the board of Custodian Property Income REIT (CREI), a company he co-founded a decade ago. His decision follows the recent privatization of Mattioli Woods by Pollen Street Capital in a £432 million deal, prompting him to focus on his primary role.

Nathan Imlach has been appointed as the new non-executive director of CREI. Currently, he serves as the senior independent director at Mortgage Advice Bureau and is a chief strategic adviser at Mattioli Woods, where he focuses on acquisitions. Imlach, a chartered accountant with extensive experience, previously held roles as CFO of Mattioli Woods and company secretary at Custodian.

Imlach's appointment is part of a transition plan that will see CREI's board become fully independent from its investment manager by the end of 2025. David MacLellan, chairman of CREI, expressed gratitude for Mattioli's contributions since the company's inception in 2014, highlighting his role in developing the property syndicate initiative that formed the foundation of CREI.

Mattioli reflected on his journey, noting his instrumental role in creating the property syndicate initiative in 1999, which laid the groundwork for Mattioli Woods. Although he will no longer serve as a director, he remains a significant shareholder, with his family owning 6.4 million shares, which they plan to hold long-term as an investment in quality property assets.

Mattioli emphasized his commitment to supporting CREI's success in his ongoing role as chair of Custodian Capital and as a member of its investment committee. He expressed intentions to potentially increase his family's shareholding when financially feasible.

Overall, this leadership transition marks a significant moment for both Mattioli Woods and CREI, as they navigate new strategic directions following recent changes in ownership and management.