CROMWELL has appointed Michelle Dance as the new CFO.
Bringing more than three decades of corporate experience to the role, Dance has held high-profile positions at some of the country’s largest real estate and financial institutions.
This includes serving as treasurer for AMP Capital Investor’s Listed Property division, group executive of corporate finance and strategy at Investa Property Group, head of capital at Leighton Properties and executive director of institutional real estate for the Commonwealth Bank of Australia.
“I look forward to using my experience to drive Cromwell’s financial strategy and performance to become a capital light fund manager,” said Dance.
“I’m grateful for the opportunity to progress my career further with Cromwell; a company that welcomes new perspectives and open discussion. Using our shared values as a foundation, I will work with my colleagues to continue to build strength in the group’s balance sheet to drive the business forward.”
Before Cromwell in March 2022, as fund manager for Cromwell’s Australian office portfolio, Dance was fund manager for the Dexus Office Partnership.
This appointment comes after comprehensive search process, which included both external and internal candidates.
Dance will commence in the role from 1 January 2024.
“We are delighted to welcome Michelle into the role of Cromwell CFO from January. She is an established professional within our business who has an impressive financial and real estate background,” said Jonathan Callaghan, CEO at Cromwell.
“Michelle’s well-honed treasury skill set, and long history of successfully managing significant debt portfolios through several market cycles, will be crucial in helping us meet our strategic objectives.”
Cromwell and Australian Unity recently announced they were terminating their proposed merger to establish a $1.1 billion unlisted investment property fund, amidst increasing uncertainty in the market.
Andrew Pallas will also be promoted to deputy chief financial officer from 1 January 2024.