People moves: Forest Investment Associates makes major leadership changes

Forest Investment Associates, Dexus, Gecina, BlackRock, Cromwell Property Group, CBRE, Neuberger Berman, CIM Group, Quadrant, Studio Ceylon, Hollis

Forest Investment Associates – Mike Cerchiaro is to take over from Marc Walley as president, CEO and chair of FIA’s executive committee from 1 January 2024. Cherciaro joined in 2004 and currently leads the investment management team. Walley, who joined FIA in 1994, will remain with the firm on a part-time basis and continue as chairman of the investment committee and as a board member. Andrew Boutwell will step into the role of senior managing director to lead FIA’s newly consolidated investment management team. He joined in 2004 and leads the real estate transactions team. MaryKate Bullen, who leads FIA’s sustainability programmes, will take over V Scott Bond as vice president of client relations and business development. Bond will move to a part-time role in 2024.

Dexus – CIO Ross Du Vernet will replace Darren Steinberg as CEO and executive director of the Australian listed real estate group in March next year. Du Vernet has been a member of the executive leadership team since he joined Dexus in 2012. Steinberg, who has been CEO since 2012, announced his decision to step down in November. Dexus’s funds under management have risen from A$12.9bn (€7.8bn) to A$61bn during Steinberg’s tenure and over that time he has diversified the group’s focus on central office buildings to sectors such as healthcare and infrastructure.

Gecina – Nathalie Charles, the former deputy CEO and global head of investment management of BNP Paribas Real Estate, has been appointed an observer at the French listed real estate company ahead of her becoming a director next year. She will join the compliance and ethics committee.

BlackRock – John Saunders, who leads the Asia-Pacific real estate business of BlackRock, is leaving after 16 years with the firm, according to sources close to the matter. IPE Real Assets understands that he will take on a senior role at a real estate company based in Asia-Pacific. BlackRock did not comment, but it is understood that Hamish MacDonald is to succeed Saunders as head of Asia-Pacific real estate equity, while retaining his existing role as CIO of Asia-Pacific real estate equity. MacDonald will also become co-portfolio manager of all vintages funds in BlackRock Asia-Pacific value-add real estate series and join the global real estate executive committee. Stella Ju will expand her existing portfolio management responsibilities to become co-portfolio manager, reporting to MacDonald.

Cromwell Property Group – Michelle Dance, fund manager and executive team member, will be promoted to chief financial officer at the Australian listed real estate firm on 1 January 2024. Prior to joining Cromwell as fund manager for Cromwell’s Australian office portfolio in March 2022, Dance was fund manager for the Dexus Office Partnership, a joint venture with Canada Pension Plan Investment Board. Before that she was treasurer for AMP Capital Investor’s listed property division.

CBRE – Chris Gow will become head of debt and structured finance for Europe on 1 January 2024. Gow joined the business in 2020 and has been leading the debt and structured finance team in the UK and Ireland since January 2023. Robert-Jan Peters, head of debt and structured finance in the Netherlands, will take on wider responsibilities in continental Europe. Working closely with Gow, Peters will be responsible for driving greater collaboration across the region.

Neuberger Berman – The investment manager has hired Yahya Abdulla as EMEA real estate product specialist, based in London. With more than 18 years of industry experience, Abdulla joins from CIM Group, where he worked within international real assets capital raising and client relationship management.

Quadrant – The UK real estate asset management and development company has appointed Aqeel Sourjah as associate partner. Sourjah will work on the management of Quadrant’s new ESG-led London office schemes, YY London in Canary Wharf and OSMO in Battersea. He has a background in architecture and joins from Studio Ceylon.

Hollis – The European real estate consultancy has appointed Adrian Poucher as its first pan-Ireland director. Having joined Hollis is 2006, Poucher was part of the team that originally opened Hollis’ Dublin office in 2007, before going on to take the role of head of operations for its Northern Ireland team.