Michelle Dance announced as new Cromwell CFO
Real estate investor and fund manager, Cromwell Property Group (ASX:CMW) (Cromwell), has announced its current Fund Manager and Executive Team member, Michelle Dance, will be promoted to the role of Chief Financial Officer (CFO) from Monday, 1 January 2024.
The appointment follows a comprehensive search process, which included a strong field of external and internal candidates.
Ms. Dance brings more than three decades of corporate experience to the role, having held high-profile positions at some of Australia’s largest real estate and financial institutions.
Commenting on the appointment, Cromwell Chief Executive Officer Jonathan Callaghan said: “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. 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.”
Ms Dance added: “I look forward to using my experience to drive Cromwell’s financial strategy and performance to become a capital light fund manager. 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.”
Michelle will be supported by seasoned financial professional Andrew Pallas, who will be promoted to Deputy Chief Financial Officer from 1 January 2024.
Her previous roles have included Treasurer for AMP Capital Investor’s Listed Property division; Group Executive, Corporate Finance and Strategy at Investa Property Group; Head of Capital at Leighton Properties; Executive Director of Institutional Real Estate for the Commonwealth Bank of Australia. Prior to joining Cromwell as Fund Manager for Cromwell’s Australian office portfolio in March 2022, Ms. Dance was Fund Manager for the Dexus Office Partnership, a A$5.3billion joint venture between Dexus and the Canadian Pension Plan Investment Board.
Michelle holds a Master of Commerce, majoring in Economics and Finance, has been a regular lecturer in Real Estate Finance at the University of Technology Sydney, and is currently Chair of the Board of the Sydney Skin Hospital.