SINGAPORE - Philip Levinson, the chief executive of Cromwell European Reit's manager, has resigned to pursue other business interests, including providing advisory services to the real estate investment trusts' sponsor, Cromwell Property Group.

Mr Levinson, 54, will remain as executive director and CEO of Cromwell Ereit Management until Aug 31, and will work closely with the trust manager's board to achieve a smooth transition, the trust manager announced on Monday (June 18) before the local stock market opened. The trust manager's board has begun the search for a new CEO.

Mr Levinson was instrumental in helping to list Cromwell European Reit in Singapore, a process that took two attempts. He headed the manager of the former Cambridge Industrial Trust before leaving and re-emerging at Cromwell.