Bryce: [00:18:39] Now down before we turn the discussion around sustainability, which is very important for the Equity Mates community, we're just going to take a quick break to hear from our sponsors. And of course, with the low interest rates, if we can create a good investment product for our investors, that demand for that product of that is very strong today and we continue to see strong should continue as well. Including infrastructure finally achieved via the Collimate deal was always going to take time. The commercial real estate tsar says talk of the 'death of the office' isn't keeping him up at night, although he expects next year to be even tougher than this one. At Melbourne Airport, there was an exceptional opportunity to develop an industrial estate with manufacturing and logistics businesses, he said. Good morning, guys. Darren Steinberg: [00:19:21] Yeah, first of all, guys, look, sustainability has been a catchcry in real estate since the 1980s. So it makes good business sense and it's been ingrained inside Texas that that's the way we want to run our buildings in a more sustainable and effective way. ASX-listed Dexus completed its $225 million acquisition of AMPs Collimate Capital real estate and local infrastructure equity business last month, boosting the income it earns from managing funds on behalf of third parties. Darren J Steinberg is CEO/Exec Dir at Dexus. The US is having a totally different experience to whats playing out in Australia, in Singapore, in India, in Hong Kong, in Japan.. The organizational chart highlights the reporting lines within the company, starting with Darren Steinberg - the Chief Executive Officer & Executive Director of Dexus, and followed by additional decision makers: Keir Barnes, Chief Financial Officer, and Raechelle Inman . Dexus is almost back to "business as usual", he says, with about 60 per cent of staff in the office at any one time. Performance at Dexus ( ASX:DXS) has been reasonably good and CEO Darren Steinberg has done a decent job of steering the company in the right direction. Alec: [00:30:06] And then final question, Darren, and before we ask, we just really want to say thank you for taking the time today. Having a diversified portfolio and diversified exposure is going to be a good thing moving forward.. hit last year after the collapse of building group Probuild. Yeah. Alec: [00:01:43] Let's check in now. But I guess if you if you had another message for all the ASX leaders out there, what can they learn from your efforts and what should they be emulating in your in their businesses? Alec: [00:21:50] Yeah, 100 percent agree with that sentiment. Time is getting away from us, so it's now or never to throw in a question about the #MeToo movement and sexism in the industry. Mr. Steinberg holds the position of Chief Executive Officer & Executive Director at Dexus and Chief Executive Officer & Executive Director at DEXUS Funds Management Ltd. (a subsidiary of Dexus). Steinberg has chosen to eat at Azuma, a dimly lit Japanese restaurant tucked away at one end of a food court on the second floor of Chifley Tower, not far from his office. There are no rules about coming into work, but the senior executive team is back and Steinberg believes the broader team has been more productive as a result. If something does happen, Steinberg says there's no point putting your hands over your eyes and saying, 'Jeez, I hope it goes away. The struggle for internet bandwidth was real. But we have a 15 billion dollar development problem that's going to come up. So let's turn our conversation to people and culture and how you think about that, do you? Sydney Companies With More Than 10 Employees, Asia-Pacific (APAC) Real Estate Investment Companies, Asia-Pacific (APAC) Private Equity Stage Companies With More Than 50 Employees, Australasia Real Estate Investment Companies, Australasia Investors with Funds Raised in 2019, Sydney Companies With More Than 50 Employees, Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Where the person is located (e.g. Weve been tilting towards real assets, Steinberg says. Appreciate your time and good luck for the future. Dexus Diversified Infrastructure Trust (DDIT), Dexus Wholesale Shopping Centre Fund (DWSF), Dexus Community Infrastructure Fund (COMMIF), Dexus Wholesale Australian Property Fund (DWAPF), Dexus Property for Income Fund No 2 (DPFIF2). Dexus provides the Appendix 3Y - Change of Director's Interest Notice for Darren Steinberg. We didn't like. In short, yes, given we are in a recession and there are about 4 million working-age Australians on some kind of income support. He is a former National President of the Property Council of Australia, a founding member of Property Male Champions of Change and a Trustee of the Museum of Applied Arts & Sciences. Everyone's being impacted and, as a result, there's very little that you can do strategically to have gotten yourself out of this position.". The CEO forecasts there will be fewer jobs for lawyers and researchers in the future because AI will be able to do much of the grunt work. What's going on now with these continued lockdowns is going to see another hit to GDP and it's going to take a while to ramp up out of it the. Theres a global trend for a fewer number of large managers that become more like one-stop solutions for clients, Steinberg says. This is just popping out of office. Darren Steinberg, Dexus CEO said: "Alison has been a valuable member of our leadership team and after more than six years at Dexus has decided to leave the group. 3 min read Darren Steinberg became the CEO of Dexus ( ASX:DXS) in 2012. It seems like there's so much going on in the space, so we'd love you to take us inside the room. So you guys, how our business works from top to bottom, super smart. He is also Deputy Chancellor and a member of the Council of UNSW. Youve got people who are very upset and crying and you have to decide whether to let people out of the buildings or not.. Alec developed an interest in investing after realising he was spending all that he was earning. Dexus chief Darren Steinberg. Questions abound about the future of the currencies themselves Bitcoin, Ethereum etc. We've got currently our recollections are about ninety seven per cent across our office business because a lot of offices are operating quite well and still profitable and they need those workplaces when we get back. He's a regular and we've been seated at the best and brightest table in the house, tucked away in a discreet window alcove at the back of the room. Darren Steinberg: [00:31:11] Thanks, guys. But having deep resourcing is essential. I can have a round of golf, which I took up again in I badly, of course. DEXUS Dexus announced that it has entered into binding terms which provide a framework to fund, develop and invest in Atlassian's new headquarters in Sydney. 2022 09 02 Appendix 3Y - Darren Steinberg (214.84 KB) Contacts Rowena Causley Head of Listed Investor Relations It's costly returns, only other things. So it's been a pleasure to sort of hear directly from you about how you're thinking about Dexus and more broadly, the property landscape at the moment. Dexus was already going down this path. And I still like that. Follow the topics, people and companies that matter to you. It takes a while for the waitress to come back for our food order. So I think you should, first of all, be commended for those efforts. And so look at Dexus. He expects next year will be even tougher than this year. But once again, that's not without its challenges. 3:29PM June 22, 2022 Comments Property company Dexus faces a tough environment. And this time last year, there was a big question mark on the future of office with his office going to go. Her non-executive directorships have spanned listed, unlisted, private and government companies. The last time I interviewed Steinberg was just before the pandemic struck, in February. Darren Steinberg: [00:29:41] That I look, I think there's always a variety of risk. Darren Steinberg, CEO of Dexus. But we're the only ones that get to see all that data. Because JobKeeper appears to be overly generous and they're only going to get a little bit more pay for going to work. On these bigger projects, its all about making sure you pick the right backer and the builder, Mr Steinberg said. Darren Steinberg is the CEO of Dexus and an Executive Director of Dexus Funds Management Limited. Authorised by the Board of Dexus Funds Management Limited About Dexus Dexus is about returns to investors, whether you're in the listed stock or they're in any number of unlisted funds or the smaller rates, it's about the returns because if we don't deliver the returns, then we're not going to attract the capital to that. And most you can imagine, we talk to our customer base, to most of the chief executives in the country. In his other hand he clenches his chopsticks and scoops up a piece of sushi. And the CEO said that Australias office market was better than New Yorks, which he visited a few weeks ago to meet clients Blackstone and Brookfield Property Partners. So a lot more breakout spaces, lot more collaboration spaces. and not be able to go overseas to talk to some of our large investors. Darren J. Steinberg serves as Chief Executive Officer, Executive Director of the Company. It's not yet 12.30pm, but the restaurant is three-quarters full and heaving. And I think that's the only way you're going to get going here. Paula is Chair of Allianz Australia Limited and Elenium Automation Pty Limited and a Non-Executive Director of Lion Pty Limited and Lion Global Beverages, where she is Chair of the Audit, Risk and Compliance committees. He'd come up every couple of weeks and he did a great job, but it was just a bit strange. I can talk to my investors around the globe. It was six years ago, in December 2014, and unfolded about a block from where we now sit in Azuma, looking out of the window from Chifley Tower at the centre of Sydneys financial district. And I was fortunate to have my teeth in the 2008 crisis when I was running the Colonial First State property business, which consisted of two of three listed trusts and a variety of unlisted trusts. She is also a director of several infrastructure and government bodies. His most recent executive roles included Chief Executive Officer of Colonial First State Global Asset Management, Chief Executive Officer of 452 Capital, and Goldman Sachs Managing Director in Australia, London, and Singapore. That's that's well and truly past both here and globally. But if CEO Darren Steinberg is worried it's not showing. His career progressed through Stockland and Colonial First State to the CEO's chair at Dexus at the age of 44. Darren has over 30 years' experience in the property and funds management industry with an extensive background in office, industrial and retail property investment and development. But you also want people, people, I think, to many industries and organisations to have this go for the smartest guys. Warwick has more than 30 years of funds management, finance and property industry experience in Australia, Europe and Asia. What changes have enabled you to overshoot the original goal by what seems like a pretty significant margin? And this year, we set up some new renewable energy agreements in Queensland and Victoria. "If you didn't have your company set up correctly or you'd over-leveraged, then it was your fault. We are pleased that we have achieved year-on-year improvement in the GRESB results globally, delivering performance for our investors, our customers and our communities as we transition towards a low carbon economy." But no, he did not get up to change nappies in the middle of the night. And anything that's detrimental to the Australian economy is detrimental to real estate companies such as Texas. But I already know what Steinberg will order. Darren Steinberg, Dexus CEO said: " I am excited to announce this opportunity which positions Dexus as a leading real asset manager, with new capabilities and an expanded product offering, underpinned by our best practice governance and risk management framework. Is he a hands-on father? Darren Steinberg: [00:02:57] I've been fortunate in my career to work for a number of listed REITS.
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