Lendlease Appoints Penny Ransom CEO of Investment Management

Lendlease has named Penny Ransom as Chief Executive Officer of Investment Management, the global real estate development and investment firm announced May 18, 2026. Ransom will assume the role on July 1, 2026, succeeding Justin Gabbani, who is departing to pursue an external opportunity that allows him to remain in Singapore with his family.

Leadership Transition at Lendlease Investment Management

Ransom joined Lendlease in 2022 as Group Head of Investments and was elevated to Chief Investment Officer in 2024, a role in which she held responsibility for the firm's capital allocation, global capital raising and product development. She brings more than 30 years of experience across institutional real estate, transactions and investment management, according to the company.

Tony Lombardo, Group CEO of Lendlease, credited Ransom with strengthening the firm's capital position and refining its investment strategy. "Penny has been instrumental in strengthening Lendlease's capital position and sharpening our investment strategy," Lombardo said in a statement. "She brings deep global investment management experience, strong investor relationships and a disciplined approach to driving performance."

Lombardo added that the appointment is intended to provide continuity as the firm executes its broader strategy. "Her appointment provides continuity and momentum as we continue to execute our strategy, deepen investor relationships and drive performance across our international Investment Management business," he said.

Gabbani's Tenure and Departure

Outgoing CEO Justin Gabbani has been with Lendlease since 2003, spanning more than two decades with the firm. During that time, he played a central role in the growth of the group's Investment Management platform and its operations in Asia, holding senior leadership positions across investment management, finance and regional segments in Australia, Asia and Europe.

Lombardo acknowledged Gabbani's contributions in the announcement. "I would like to thank Justin for his significant contribution to Lendlease over more than two decades and wish him success for the future," he said.

Lendlease's Investment Management Business

Lendlease's Investment Management business operates across multiple international markets. The company stated that Ransom is well positioned to lead the business as it continues to focus on performance and long-term value creation for investors. Her prior remit as CIO — overseeing capital allocation, global capital raising and product development — aligns closely with the responsibilities of the CEO role.

Ransom's appointment is effective July 1, 2026. Lendlease is headquartered in Sydney, Australia, and operates across the United States, Australia, the United Kingdom, Italy, Japan, Malaysia, Singapore and China.

Sources

Lendlease Media Release, May 18, 2026