A message from our Group Chairman and CEO Christophe Reech
Dear colleagues, co-investors, partners,
The situation presented by COVID-19 has brought in a new set of challenges for all of us. While the world is sailing through unchartered waters, we have every confidence that it will bounce back from this stronger and better equipped than ever before.
Our mission at Reech Corporations Group is to engineer long term value and solve market problems and inefficiencies. We remain committed to our mission during this challenging time and I would like to take the opportunity to share with you what we at Reech Corporations Group have been working on to ensure you that we continue to be fully operational.
Firstly, the health and wellbeing of our employees is paramount at this time. We, like everyone else around the world, are closely following social distancing rules imposed by the governments to ensure that our employees and people they are in contact with remain healthy. Our teams in London, Luxembourg, Munich, Zurich & Dubai, have successfully adapted to the new working conditions. Despite the obvious disruptions, business continuity and productivity has been very positive and our plans continue to develop undeterred. I would like to thank them for their continued hard work and support and wish them and their families all the best.
Secondly, we continue to monitor the evolving situation carefully and the impact it is having on companies, hard assets and markets. Make no mistake – we are in a recession, and there will be losses that cannot be recovered.
Investors need to take this time, like us, to reflect. To review the situation carefully and to be ready for the next challenge this crisis could bring. Most importantly, there’s currently a need for rebalancing and there are new parameters that need to be priced in, so it is the time for action too.
As a business, we are at the forefront of paradigm shifts in the sectors that we cover – real estate, financial services and technology – and more recently, the impact of COVID-19 on these sectors. We remain fully committed in our mission to achieve long term value across these industries.
While the world and markets look for recovery opportunities, we continue to be an active partner. We have deployed capital over the past few weeks, and are ready to deploy further as we remain operationally sound and seek to continue our work with our clients and companies through this crisis. As part of this, our entire team is on alert to pragmatically receive, analyse and act quickly to any situation or opportunities we identify. We have done it over the last few days, and are ready to continue to do so.
While it’s very difficult to say what the next few weeks or months look like, I would like to finish with the following point: while we are going through a major crisis, ultimately we will prevail. However, for now the focus is primarily on health, safety and recovery.
The world has seen many crises in the past, and as history is a good predictor of the future, it is undeniable how resilient the world is. Whichever direction this crisis moves in or shape the recovery takes, Reech Corporations Group is an active and creative partner and operator, and we look forward to working with all of our colleagues, co-investors & partners, closely, now and in the future.