Ivanhoé Cambridge has appointed Nathalie Palladitcheff to succeed chairman and CEO Daniel Fournier who is retiring in October.
The real estate investment arm of Caisse de dépôt et placement du Québec (CDPQ) said it intends to appoint a new chairman in the coming months as part of a previously announced plan to separate its president and CEO and chairman roles.
Before joining Ivanhoé Cambridge’s management team, Palladitcheff held various management positions in real estate investment, development and services at private and public companies.
In her new role, Palladitcheff will work closely with Sylvain Fortier, CIO and innovation officer, whose functions were expanded and include responsibility for the company’s overall investment activities.
Fournier, who spent over a decade at CDPQ, including more than nine as the CEO of Ivanhoé Cambridge, is credited for leading the consolidation of CDPQ’s real estate subsidiaries SITQ and Ivanhoé Cambridge in 2011.
Under his leadership, Ivanhoé Cambridge has become a global presence, as he grew the company’s real estate assets from C$31bn (€20.9bn) to C$65bn, generating net investment income of close to C$24bn, with an average annual return of 11.8%, the company said.
During his time as CEO, Ivanhoé Cambridge’s transaction volume, including acquisitions and sales, totalled nearly $100bn.
Michael Sabia, president and CEO of CDPQ, said: “Thanks to Fournier and his team, Ivanhoé Cambridge has built world-class expertise in acquiring, developing and managing real estate assets.
“In addition to all his real estate work, Fournier has been a fundamental pillar in CDPQ’s transformation, where he has been recognised for his sharp business acumen, great leadership and unwavering commitment to building this great institution.”