Mattioli steps down from property investment firm he helped set-up

Ian Mattioli, the chief executive of Leicester wealth management firm Mattioli Woods, is to step down from the board of Custodian Property Income REIT (CREI) – a company he helped set up a decade ago.

Mattioli said he will be concentrating on his day job after Mattioli Woods was recently taken private by Pollen Street Capital in a £432m deal.

Custodian said that Nathan Imlach has been appointed as its new non-executive director.

Imlach is currently senior independent director of Mortgage Advice Bureau and chief strategic adviser to Mattioli Woods, where his focus is on acquisitions and contributing to its future direction. He is a chartered accountant, holds the ICAEW’s Corporate Finance qualification and is a Chartered Fellow of the Chartered Institute for Securities and Investment. He was previously chief financial officer of Mattioli Woods, company secretary at Custodian and a director of Custodian Capital.

Imlach has joined the board of the company for a transition period up until no later than the end of 2025, at which point the board of CREI will become fully independent from the company’s investment manager.

David MacLellan, chairman of CREI, said: “The board thanks Ian for his invaluable contribution as founding director of the company since its establishment in 2014.

“Ian instigated Mattioli Wood’s syndicated property initiative that developed into the seed portfolio for the launch of the company. The board has high regard for Ian’s insight and expertise, and he will continue to serve a valuable role for CREI in his capacity as chair of Custodian Capital.

“Nathan also played a key role in establishing the company and will bring a valuable perspective to the board prior to its transition to being fully independent by the end of 2025.”

Mattioli, founding director of the company, said: “Back in 1999, I was instrumental in creating Mattioli Woods’ property syndicate initiative, which became the seed portfolio for the company as we know it today.

“It has been an honour to serve as a founding director, contributing to the company’s vision and strategic direction. Whilst I will no longer be involved as a director, I remain a major shareholder, with my family currently owning 6.4 million shares, which we intend to hold long-term as a transparent investment in quality property assets that produces sustainable income.

“It continues to be our family’s intention to grow our existing shareholding from time to time when funds allow.

“I remain committed to supporting CREI’s continued success as chair of Custodian Capital and as a member of Custodian Capital’s investment committee.”