Blackstone Mortgage Trust (BXMT)’s CEO Steve Plavin will move to London to oversee Blackstone Real Estate Debt Strategies (BREDS)’s European business, the US asset management giant announced on Wednesday.
Plavin, who will be replaced by Katie Keenan, BXMT’s president, will continue as senior managing director of BREDS in charge of the European platform. He has led Blackstone Mortgage Trust (BXMT) since its re-IPO in 2013, overseeing a period of significant growth and strong performance for the business. The REIT has grown into a major commercial mortgage lender with an $18.7 bn portfolio and $4.6 bn market cap and yielded total returns to shareholders of 10.8% annualized.
Plavin said, ‘Katie is the ideal person to lead BXMT through its next chapter. Since joining the BXMT leadership team, she has taken on increasing responsibility for the business and proven to be an exceptional investor, strategist and manager. I look forward to joining the team in London and leading the growing BREDS Europe business, while working closely with Katie to ensure a seamless transition.’
