AIMS AMP Capital Industrial REIT, the real estate investment trust joint venture of financial services firms AIM Financial and AMP Capital, has appointed a new chief executive.

Effective 1 January 2014, Koh Wee Lih takes the role of CEO, replacing Nicholas McGrath who will retire after five years on the job. Koh joined the company in December 2008 and was named head of real estate in January 2011. Over the past three years, he worked closely with McGrath to develop the company's investment strategy. Both will still collaborate over the next months to ensure a smooth transition.

McGrath will move to a new role in Sydney with AMP Capital but will remain on the trust's board as a non-executive director. 

AIMS AMP Capital Industrial REIT was established to deal with income-producing industrial real estate assets in Singapore and Asia. It consists of 25 industrial properties located throughout the city-state with an appraised total value of S$1.04 billion as at 31 March 2013.