Australian businessmen Peter and Stephen Lowy were joint chief executives of the Westfield Group, one of the world’s biggest retail development companies, before it was acquired by Unibail-Rodamco in December 2017. Under the Lowy brothers' leadership, Westfield was spread across 120 shopping centres in the United States, Australia, the United Kingdom and New Zealand, generating annual sales of $58 billion. Today, Unibail-Rodamco-Westfield operates 93 shopping centres in 13 countries, operating a growth merchandise volume of over €65.2 billion in 2018.
Their father, Frank Lowy, co-founded the Westfield Group, which has made him one of the wealthiest people in Australia.
His son Peter Lowy has almost 30 years of experience, having worked for the family business since 1983, rising to the position of managing director of the Westfield Group in 1997. He was a former investment banker working in London and New York, and has a bachelors degree from the University of New South Wales. He also has a number of civic appointments, including serving as the Chairman of the Homeland Security Advisory Council, and is a director at the Lowy Institute for International Policy. Today, he is a member of the supervisory board at Unibail-Rodamco-Westfield.
Stephen Lowy served as co-managing director of the Westfield Group and was also a former investment banker working in New York before joining the company. He has a bachelors degree from the University of New South Wales as well, and sits on the board of Trustees of the Art Gallery of New South Wales. In 2015, Stephen took over from his father as the chairman of the Football Federation Australia but stepped down in 2018. He serves as a non-executive director for the Scentre Group, which owns and operates Westfield shopping centres in Australia and New Zealand.