End of an era: The man behind Canary Wharf’s rise to step away after 36 years
Sir George Iacobescu – who has been a driving force behind Canary Wharf since its inception – will step down as chairman of the board of directors, it was announced today, to be replaced by City grandee Sir Nigel Wilson.
Iacobescu took his first job at the Wharf in 1988 for then-developer Olympia & York, becoming construction director and then CEO of the new Canary Wharf Group in 1997. He held that job until 2019, handing over the reins to Shobi Khan.
He will hand over the chairmanship to Sir Nigel Wilson, who recently stepped away from the CEO’s job at Legal & General, where he became known as the voice and indeed conscience of Canada’s C-suite.
Sir George Iacobescu : “It has been the honour and the challenge of a lifetime to have worked with an extraordinary group of people transforming a derelict dock into a thriving mixed-use city district. CWG is the first company on the planet to have built an entirely new central business district from scratch.
“Today, Canary Wharf is home to thousands of residents, businesses large and small across many sectors, one of the U.K.’s busiest shopping centres as well as parks, gardens, shops, restaurants and bars. It is a thriving community in the heart of the old East End.”
The Wharf’s rise from nothingness to a thriving hub – now including residential and life sciences plays in addition to financial services – is used as an example of urban development the world over.
Iacobescu has also overseen the work of joint ventures including 20 Fenchurch Street – better known as the Walkie Talkie – and was knighted for services to charity in 2011.
Sir Nigel Wilson said: “For over three decades, Sir George’s visionary leadership, design prowess, and engineering acumen have transformed Canary Wharf into a mini-city that competes on a global stage.
“I have had the privilege of observing his contribution as a force for progressive change for the
UK economy, generating jobs, supporting construction firms and bolstering the wider business
community. I am honoured to be stepping into his role as Chair.
“Canary Wharf is becoming a city within a city with approximately 20 million square feet of
vibrant space across offices, housing, retail and leisure. Its great transport links are driving
record footfall numbers with over 67.2 million visitors last year. I am excited about the
opportunity to leverage my experience to support its growth strategy and to collaborate with
Shobi Khan, Chief Executive, and his dynamic management team.”