Pramerica names former Europe chief Eric Adler as new CEO

Pramerica Real Estate Investors has appointed Eric Adler as the company’s new CEO, succeeding Allen Smith.

Adler joined the US-based investment management firm Pramerica in 2010 as head of its European operations. He was promoted to chief investment officer in January 2013 to oversee the company’s global investment and risk management processes as part of the company's long-term succession plan.

As CIO, he serves on the company’s global management and global operating committees and chairs the global investment committee.

Smith is leaving the company after 26 years of service to become president and CEO of Four Seasons Hotels and Resorts. He will remain with Pramerica to assist with the transition until Adler takes the helm in September.

Before joining Pramerica, Adler, who was raised in the US, co-directed Tishman Speyer’s European activities and was a member of its global management and investment committees.

Earlier, he led Morgan Stanley’s MSREF’s activities in Germany, France, Italy and Spain. He also had overall operational responsibility for MSREF’s Special Situations Fund II. Before that, he worked for Credit Lyonnais and Unibail in Paris.

Pramerica Real Estate Investors is part of US-headquartered Prudential Financial and had $37.3 bn (€28,2 bn) of net assets under management worldwide at end-March 2013. In Europe, the firm had net AUM of $5.6 bn (€4.2 bn) at end-March.