Ric Lewis confirmed as preferred candidate for Chair of The Crown Estate
The Crown Estate is pleased to announce that Ric Lewis has been confirmed as the preferred candidate for the position of Chair of The Crown Estate, subject to pre-appointment scrutiny by the Treasury Select Committee.
The Crown Estate is overseen by an independent Board and is set up to act in the long-term national interest across its diverse £16 billion marine, urban and rural portfolio in England, Wales and Northern Ireland.
Today’s news comes as The Crown Estate is continuing to grow its critical role in supporting the UK’s transition to a decarbonised, energy secure future; enhancing nature recovery; creating inclusive communities and economic growth; and generating a strong financial return for the benefit of public spending. This has totalled £4 billion over the last ten years.
Subject to formal appointment, Ric Lewis will succeed Sir Robin Budenberg CBE who has been Chair of The Crown Estate since August 2016. The timing of the transition is expected to be finalised in Spring 2025. Until then, Robin will continue as Chair, ensuring a smooth handover to Ric.
Ric has over 35 years of experience in the real estate investment sector and is currently the Executive Chair and Co-Chief Investment Officer of Tristan Capital Partners, a real estate investment manager he founded in 2009.
He moved to London from the USA in the late 1990s to become the Chief Investment Officer and Board Director of AEW Europe, a pan-European real estate investment management business.
Ric then founded and served for several years as Chief Executive for Curzon Global Partners, a London based real estate investment company, owned by AEW Europe.
Outside business, Ric is passionate about improving educational access for young people from under-resourced and under-represented communities. In 2000, he founded his own charitable foundation, The Black Heart Foundation dedicated to improving educational access, quality, and outcomes for underprivileged young people. The foundation has provided educational scholarships to over 750 Black Heart Scholars at 160 institutions throughout the UK (and US).
Ric also serves on a number of Boards including Legal and General Group Plc, the Royal National Children’s Springboard Foundation, Imperial College London and Dartmouth College (USA). Earlier in 2024, Ric joined the Board of Trustees of The Earthshot Prize.
Sir Robin Budenberg CBE, Chair of The Crown Estate, said: “Ric is an outstanding leader whose experience and values align strongly with The Crown Estate. Under Ric’s leadership, I am confident the Board will continue to ensure The Crown Estate delivers the best outcomes for the nation.”
Ric Lewis said: “It is an honour to be chosen for the role of Chair of the Board of this unique business and a privilege to act as a custodian of a historic yet forward-thinking organisation which places the national interest at the core of its work. It is an organisation I have always greatly admired and with which I feel a strong affinity in terms of its ethos, ambition and motivation. I am looking forward to working closely with the Board, including Chief Executive Dan Labbad, and his wider team to oversee the next chapter of its story.”
Dan Labbad, Chief Executive of The Crown Estate, commented: “The Crown Estate is a remarkable business and Ric’s combination of experience, strategic thinking and integrity make him an excellent fit and exemplary role model for the business. I look forward to working with Ric to continue realising The Crown Estate’s potential in the period ahead.”
He added: “I would like to take this opportunity to offer my deepest thanks to Robin for his incredible service to The Crown Estate over the past eight years. Under Robin’s stewardship, The Crown Estate has become closer to its customers and stakeholders and the Board has diversified its expertise to better represent the ambition of the business. On a personal note, Robin is someone I greatly admire, and his encouragement, challenge and wisdom as we implemented our new strategy has been invaluable.”