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Sir George Iacobescu will step down as chair of Canary Wharf Group after 36 years of steering the docklands financial district’s growth and will be succeeded by former L&G chief Sir Nigel Wilson.
The company, owned by Brookfield and the Qatar Investment Authority, said on Wednesday that Iacobescu, 78, had been a “driving force” behind the creation of Canary Wharf since 1988. He served as chief executive from 1997 to 2011 and has been chair since then.
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.”
