GLOBAL - Cornerstone Real Estate Advisers, Henderson Global Investors, Allianz Real Estate of America, AXA Real Estate Investment Managers, RREEF Real Estate, Westport Capital Partners
Cornerstone Real Estate Advisers - Mark Higgins has been appointed president at the investment advisory firm. He replaces David Reilly, who has served as both president and chief executive for the last five years. Higgins joined the company in 1996 and most recently served as Cornerstone's chief investment officer for equities, with responsibility for all direct equity investments in North America. Before then, he was a principal with HPI Realty Partners, a San Francisco-based firm he co-founded in 1991.

Henderson Global Investors - Andrew Friend has been promoted to head up the UK distribution team for Henderson's property business. As director of institutional business, Friend will be responsible for the London-based property distribution team, which focuses on the UK, German, Nordics and Benelux regions. He has been with Henderson for 11 years, predominantly as fund manager of the UK Retail Warehouse fund.

Allianz Real Estate of America - Gary Phillips joins as senior director, working primarily on originating equity investments. He will execute core/core-plus office, retail, multi-family and industrial investments throughout the US. He was previously vice-president of acquisitions for Clarion Partners in New York, with prior experience at RREEF and Deutsche Bank. Separately, Gregory Brown joins as head of research for the Americas. He was previously director of research for UBS Realty Investors.

AXA Real Estate Investment Managers - Riccardo Dallolio has been appointed European head of transactions. He will be responsible for securing large pan-European transactions and co-ordinating all deal activity in Europe. He joins after six years at Grove International Partners, where he was a partner. He has also worked at JP Morgan Investment Banking and JP Morgan Partners Real Estate Group.

RREEF Real Estate - Leslie Chua has joined as head of research and strategy for Asia Pacific (excluding Japan and Korea). Chua, who will be based in Singapore, was most recently head of research and strategic planning at Pacific Star Holdings. He has also worked at Standard Chartered Bank-Istithmar Real Estate Fund Management and the Jones Lang LaSalle Real Estate Intelligence Service. 

Jones Lang LaSalle - Tracey Byer joins as head of JLL's markets corporate solutions initiative in the UK. She joins from DTZ, where she held several senior roles, most recently head of sales for UK property management. Before then, she worked for Grubb and Ellis Europe, where she led the EMEA corporate services team, and before then was vice-president at Johnson and Higgins UK & US.

Westport Capital Partners - The distressed and opportunistic specialist has hired Marian George as assistant vice-president of legal. She was most recently an associate at law firm Goodwin Procter, where she represented domestic and foreign investors, fund sponsors, institutional investment advisers and investment banks. Before then, she was an associate at Herrick Feinstein.