Derwent London has made a significant announcement regarding its leadership structure, appointing Jonathan Murphy as its Chief Executive Officer and Executive Director of the Board, effective from 1 September 2026. This decision comes as part of a strategic move to reinforce the company’s leadership capabilities, especially given Murphy’s extensive background in real estate and capital markets, which aligns well with the existing Executive team’s skill set and experience.
Murphy takes over from Paul Williams, who revealed his plans to retire from the role of Chief Executive back in January 2026. Paul will remain in his current position until 1 September 2026, at which point he will step down from the Board entirely before exiting the business on 22 January 2027. This timeline allows for a smooth transition, ensuring that the operational integrity of Derwent London is maintained during this pivotal moment.
Jonathan Murphy’s Background
The recruitment of Jonathan Murphy followed a comprehensive search process conducted by the Board, assisted by an independent executive search firm. The Board expressed their enthusiasm regarding Murphy’s appointment. Mark Breuer, Chairman of Derwent London, stated, “We are delighted to appoint Jonathan as Derwent London’s next Chief Executive. He brings a strong combination of listed real estate leadership, operational discipline and capital markets expertise, with a proven track record of responsible value creation. Alongside our talented Executive team, he will provide strong leadership as we continue to recycle capital through disposals and position the business to deliver earnings growth and long-term returns for shareholders.” This endorsement highlights the confidence the Board has in Murphy’s capabilities to drive the company forward.
Prior to joining Derwent London, Jonathan Murphy served as Chief Executive Officer at Assura, a well-known healthcare property REIT listed on the FTSE 250, from February 2017 until September 2025. His tenure at Assura was marked by notable growth and strategic diversification within the portfolio, ultimately leading to its acquisition by Primary Health Properties in 2025. Murphy has also contributed to the industry through his role as a director of the British Property Federation since 2019 and his service on the Advisory Board of EPRA from 2018 to 2025.
Future Prospects at Derwent London
Expressing his excitement about the new role, Jonathan Murphy stated, “I am excited to be joining Derwent London as Chief Executive. The Group has a distinctive culture and brand, impressive property expertise, and a well-positioned portfolio which presents many opportunities to drive returns. I look forward to working with the Board and the wider team to build on these strengths and further optimise the business at this important time for the Group.” This statement reflects Murphy’s awareness of the critical opportunities within the UK PBSA market and his commitment to leveraging them for the benefit of the company and its stakeholders.
Compensation Details
In terms of remuneration, Jonathan Murphy’s arrangements have been aligned with the Directors’ Remuneration Policy, which received shareholder approval during the AGM on 15 May 2026. His annual salary is set at £650,000, accompanied by a pension allowance of 15% of his salary, which is consistent with the contributions available to the majority of the wider workforce. Furthermore, he will also participate in the Group’s annual bonus and long-term incentive plan, highlighting a performance-driven approach to compensation.