Gerardine Davies, once one of the most powerful women in the UK property industry, has left her position as co-head of retail property at Aegon Asset Management.

Davies joined Aegon at the height of the property boom in mid-2007 with two colleagues from Morley Fund Management. At Morley she was responsible for the largest open-ended property fund in the country, the £4.2bn (€4.8bn) Norwich Property Trust, now the Aviva Investors Property Trust. She and her colleagues joined Aegon to set up a property fund management business.