Kim Hourihan will be promoted to global CIO for CBRE Global Investors at the beginning of next year, replacing Jeremy Plummer who will retire.

Hourihan, who has been with CBRE Global Investors for 14 years, is currently CIO for Americas direct real estate strategies and portfolio manager for the company’s main core fund in the US.

Plummer has been in the real estate industry for nearly 40 years and joined CBRE Global Investors in 2006 when it acquired the multi-manager business he co-founded at Oxford Property Consultants.

Julie Ingersoll, managing director with responsibility for US residential and retail real estate at Canada Pension Plan Investment Board, will join CBRE Global Investors in October to replace Hourihan. 

Larissa Belova, deputy portfolio manager for the US core fund run by Hourihan, will take over as portfolio manager immediately.

CBRE Global Investors said the move was the culmination of “a strategic succession plan that began when she joined two years ago” from Thor Equities, adding that “she has been a driving force behind the [fund’s] continued outperformance, capital-raise momentum and expansion into other asset classes”.

As global CIO, Hourihan will be responsible for all real assets investment strategies globally and will chair the global investment committee. She will continue as an executive committee member and co-chair of the global diversity, equity and inclusion council.

“Kim is an inspiring colleague and investor who is very well placed to replicate her successes and drive our ability to deliver sustainable real assets investment performance across our full global platform,” said Chuck Leitner, CEO of CBRE Global Investors. 

“As we look ahead, I thank Jeremy for his exceptional contributions to our firm and wish him all the success in his next chapter.”