Peter S. Lowy is a very successful businessman who graduated with a Bachelor’s of Commerce from the University of New South Wales. He is the current director and co-CEO of Westfield Corporation, one of the world’s leading shopping center companies. According to Lowy’s Bloomberg profile, he also holds board positions or RAND Corporation Executive Committee and Board of Trustees, the Executive Committee of the Washington Institute for Near East Policy, and Lowy Institute for International Policy. Additionally, he is the Chairman of the Homeland Security Advisory Council. Before the establishment of Westfield Corp, Peter was the joint Managing Director of Westfield Group. Prior to Westfield, he worked in investment banking in New York and London
About a year ago, Peter had stated that he was to step down from his position as co-Chief Executive Officer at Westfield Corp after a proposed restructuring. His brother and co-CEO, Steven Lowy, managed to convince him to stay on at the company, with the help of their father, Frank Lowy. During an interview with ‘The Australian’, Peter told the reporter that the “prospects of the company were exciting”.
Peter has mentioned that “the company has upwards of 50% of its current value to develop again over the next five-to-seven years,” according to the Wall Street Journal. If Westfield Corp continues to see the growth it has previously seen in its London, Milan and U.S. malls, this statement could certainly prove to be true.
Westfield Corporation just completed a risky de-merger in which they entrusted its Australian and New Zealand malls to a separate company by the name of Scentre Group. The board made this decision to split their domestic and international business so they could put more focus into their U.S. and U.K. malls for now. Westfield reported a net profit of $2.3 billion one year since the breakup, with a market value for Westfield of $14 billion.
The company constantly enhances its reputation by redeveloping existing shopping centers and by finding and developing sites that have business potential in new markets. Westfield Corp has many ongoing and future projects. The company …