Leo Noe

Leo Noé
Leo Noe
Born Leopold Noé
August 1953 (age 65)
Residence London, England
Nationality British
Occupation Real estate
Known for Philanthropy
Notable work Established Lee Baron Commercial Limited, property consultants
Net worth £600 million (May 2018).
Children 5
Parent(s) Salomon Noé

Leopold Noé (born August 1953) is a British multimillionaire property investor. His net worth is at least £600 million according to the 2018 Sunday Times Rich List.[1] He is 38th in the 2018 Sunday Times Giving List, the annual ranking of the UK's most generous millionaires.[2]

Early life

Leopold Noé was born in August 1953.[3] He is the son of fellow property developer Salomon Noé (sometimes Solomon Noé, born December 1930).[4][5]

Career

Noé is executive chairman and founder of the Noé Group[6] and latterly non-executive chairman of BMO Real Estate Partners. The Noé Group announced its first deal in December 2017, the sale of the Debenhams department store building in Manchester, for £87m.[7] Also in December 2017, the Noé Group’s real estate business, Capreon, acquired De Haagsche Zwaan (The Swan) office block in The Hague from Union Investment[8].

He joined the BMO REP board on completion of the F&C/REIT merger in September 2008, having previously been founder and chairman of REIT Asset Management where he was responsible for overall strategy and client liaison.

In March 2017, Noé and Ivor Smith sold their aggregate 30% interest in BMO REP to F&C Asset Management plc (part of BMO Global Asset Management and an existing 70% Partner). With effect from August 2017, the UK Value Add assets that include contracts for the management of Noé family trust assets will return to Noé and his family. The Noé family trust assets in Germany will remain under the management of BMO REP in Munich.[9]

Noé established Lee Baron Commercial Limited, a firm of property consultants with a wide range of clients, where he still holds the position of non-executive director, and was chief executive of Bourne End Properties PLC between 1989 and 1997, a listed property investment company where his family trusts were the main shareholders.

Noé's British-Israel company, F&C REIT, is now the largest owner of shopping malls in Israel with a €1.5bn (£1.2bn) portfolio. REIT Israel Group (formerly Azorim Properties) owns a $20 million 11,000 square-meter shopping center at the entrance to Nahariya.[10] Noe was the lead buyer in an attempted takeover of Shufersal, buying Nochi Dankner's majority stake in the business.[11] The merging of Reit's £3.45bn portfolio with F&C’s £5.2bn property arm has diversified Noe's business away from family trusts and private cash to more institutional sources of equity. His companies operate in India, South America and Africa, and Europe.

In February 2018, Noé received a lifetime achievement award from UK Israel Business at its annual awards ceremony[12].

Personal life

Noé lives in London.[13] His sons Zvi and Raphael work for Capreon, a property group owned by the Noé Group.[14] His daughter Shevi is married to David Bloom, who runs Goldacre Ventures, a private equity group, which is now part of the Noé Group.[14][15]

Philanthropic work

Primarily through the Rachel Charitable Trust,[16] Noé is a philanthropist and benefactor to various charities in the UK and Israel and a trustee and patron to a number of education and welfare institutions. Noé was a member of the Holocaust Commission, the Commission on Jewish Schools and chairman of the SSIG. He is an active participant in education strategy and planning projects, with a particular and keen interest in Special Needs Education in both the UK and Israel. Noé was instrumental in securing SEN as a specialism under the schools funding programme and has committed his time and energy to SEN within the Jewish Community and to over 50 SEN schools outside of the Jewish Community.

Noé has been a trustee of Kisharon since 1998. Kisharon is a London-based charity founded in 1976 which provides innovative support to children with complex learning disabilities, their families, teachers and other professionals[17].

Noé established the Kemach Foundation in 2007, based on the belief that for the Haredi community to become part of Israeli economic society and for Israeli society to accept the Haredi community, they have to integrate into the workforce[18]. It has become the premier agency for higher education and employment for the Haredi community throughout Israel, supporting 29,000 Haredi men and women as of January 2018[19].

Noé's philanthropic approach is based on education, training and collaboration, aiming to create employment opportunities, encourage tolerance and build sustainable communities.[20] Noé was a speaker at the Accelerate Conference in New York in December 2015. His speech is here. In January 2016, Noé was reappointed Vice-President and Treasurer of the Jewish Leadership Council (JLC) In April 2017, he was named at number 64 on the Sunday Times Giving list ranking the top 100 charitable contributors in the UK, having donated around £7.8m during the previous year, details here

  • As Treasurer of Jewish Leadership Council, oversaw 8-fold increase in individual donations in 2016 compared to 2015.[21]
  • Rachel Charitable Trust, benefactor to various charities within the UK and Israel.
  • Special Educational Needs (SEN) in both the UK and Israel.
  • Pledged £750,000 in 2005 to special-needs education in the UK.
  • Kemach Foundation: "...to help Haredi students sustain themselves in dignity. Behind Kemach stands philanthropist Leo Noé, owner of British company Reit Asset Management."[22]

References

  1. ↑ "Sunday Times Rich List 2018". The Sunday Times. May 2018. Retrieved 16 May 2018.
  2. ↑ "Sunday Times Giving List". features.thesundaytimes.co.uk. Retrieved 2018-05-16.
  3. ↑ "Leopold NOE - Personal Appointments (free information from Companies House)". beta.companieshouse.gov.uk. Retrieved 8 February 2018.
  4. ↑ "Solomon Noé buys £33m Boston centre". propertyweek.com. Retrieved 8 February 2018.
  5. ↑ "£500m Noé receivership". propertyweek.com. Retrieved 8 February 2018.
  6. ↑ Hipwell, Deirdre (2017-11-22). "Tycoon keeps asset manager in the family". The Times. ISSN 0140-0460. Retrieved 2017-11-29.
  7. ↑ "Noé closes first deal after BMO sell-off". Property Week. Retrieved 2017-12-15.
  8. ↑ "Capreon acquires De Haagsche Zwaan in The Hague". Property Funds World. 2017-12-19. Retrieved 2018-02-19.
  9. ↑ "CoStar UK - The Leader in Commercial Property Information". www.costar.co.uk. Retrieved 2017-03-23.
  10. ↑ Steinberg, J. (2006) In war and peace, they keep investing in Israel International Herald Tribune. September 12, 2006
  11. ↑ "Dankner sells Shufersal - Globes English". Globes. Retrieved 8 February 2018.
  12. ↑ "Philanthropist Leo Noe dedicates lifetime achievement award to late parents". Jewish News. Retrieved 2018-03-01.
  13. ↑ "Sunday Times Rich List". Sunday Times (page 78). 7 May 2017.
  14. 1 2 Hipwell, Deirdre (22 November 2017). "Tycoon keeps asset manager in the family". Retrieved 8 February 2018 – via www.thetimes.co.uk.
  15. ↑ "David Bloom – Noe Group". noegroup.co.uk. Retrieved 8 February 2018.
  16. ↑ "Current Charity Commission report". UK Charity Commission. Retrieved 27 January 2016.
  17. ↑ "Trustee Leo Noé | Kisharon". www.kisharon.org.uk. Retrieved 2018-02-16.
  18. ↑ "Kemach offers Haredim a dignified way out of poverty". Retrieved 2018-02-15.
  19. ↑ "Home Page - Keren Kemach | The Kemach Foundation". Keren Kemach | The Kemach Foundation. Retrieved 2018-02-15.
  20. ↑ "Kemach offers Haredim a dignified way out of poverty". Times of Israel. Retrieved 27 January 2016.
  21. ↑ "'Considerable increase' in donations to JLC totals £1.7m". Jewish News. Retrieved 2017-08-07.
  22. ↑ Tucker, Nati. "The ultra-Orthodox can't all study all the time". Haaretz. Retrieved 7 September 2011.
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