Toronto, Ontario, April 27, 2010
– Brookfield Asset Management Inc. (NYSE: BAM; TSX: BAM.A; EURONEXT: BAMA) is pleased to announce that Richard Liao joined its Brookfield Europe operations on April 13th 2010 as Managing Partner, Real Estate Investments, Europe. In his new role, Mr. Liao will lead efforts to expand Brookfield's property portfolio in the region.
Prior to his appointment at Brookfield, Mr. Liao served as Managing Director, Real Estate Investment Banking for Bank of America Merrill Lynch, London, a position he held since 2005 and was employed for the preceding three years at Citigroup in London as a Managing Director of Real Estate Investment Banking. Before moving to London, Mr. Liao worked for seven years in New York and 11 years in Hong Kong in real estate investment banking and as an entrepreneur.
Mr. Liao is based in Brookfield Europe’s office in London, UK. Brookfield currently has a £1.3 billion portfolio of property assets under management in Europe, which includes 28 properties totalling 20 million square feet. Brookfield Europe also designs, constructs, manages and finances large scale real estate and social infrastructure projects.
James Tuckey, Chairman, Brookfield Europe said: “We are delighted to welcome Richard Liao to Brookfield. His extensive experience in international real estate markets will assist in achieving our growth objectives, identifying and implementing acquisition opportunities in the UK and European markets.”
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About Brookfield Asset Management
Brookfield Asset Management Inc., focused on property, power and infrastructure assets, has over US$100 billion of assets under management and is listed on the New York and Toronto Stock Exchanges under the symbols BAM and BAM.A, respectively, and on NYSE Euronext under the symbol BAMA. For more information, please visit the Company’s website at www.brookfield.com.
Note: This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words “growth”, “expand”, “objectives” and “opportunities” and derivations thereof and other expressions, including conditional verbs such as “will” are predictions of or indicate future events, trends or prospects or identify forward-looking statements. Forward-looking statements in this news release include statements in regards to Brookfield’s real estate expansion efforts, growth objectives and acquisition opportunities in the European and UK markets. Although Brookfield Asset Management believes that its anticipated future results, performance or achievements expressed or implied of such assets by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.
Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: economic and financial conditions in the countries in which we do business; the behaviour of financial markets, including fluctuations in interest and exchange rates; availability of equity and debt financing; strategic actions including dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; tenant renewal rates, availability of new tenants to fill office property vacancies, tenant bankruptcies, adverse hydrology conditions; regulatory and political factors within the countries in which the company operates; acts of God, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; changes in accounting policies to be adopted under International Financial Reporting Standards and other risks and factors detailed from time to time in the company’s form 40-F filed with the Securities and Exchange Commission as well as other documents filed by the company with the securities regulators in Canada and the United States including the company’s most recent Management’s Discussion and Analysis of Financial Results under the heading “Business Environment and Risks.”
We caution that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Brookfield Asset Management, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, as a result of new information, future events or otherwise.
For more information, please visit our web site at www.brookfield.com or contact:
SVP, Investor Relations and Communication
Tel: (416) 369-8246
Fax: (416) 363-2856