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Pere Viñolas Serra, CEO of Colonial, has been co-opted as the new EPRA Chairman, succeeding Méka Brunel, former CEO of Gecina, whose term of office expired. EPRA warmly thanks Méka for her unwavering commitment and exceptional leadership for the past two difficult years, and look forward to working with Pere on the transformation and growth of our industry.

Last week the Pan European Personal Pension (PEPP) regulation entered into force. On EPRA's front, we're introducing a new financial metric: the EPRA LTV. And we're launching registrations for the second Executive Programme, organised in partnership with INSEAD.

As we witness the dramatic situation unfolding in Ukraine, I am grateful to see EPRA members once again coming up with practical solutions and financial support for refugees. These initiatives are another reminder of what responsibility towards our communities means.