GLOBAL - TIAA-CREF, AXA Real Estate, Grosvenor Fund Management, State Street, Legal & General Property, Savills Sweden, CBRE Loan Servicing, Aberdeen Asset Management
TIAA-CREF - Chief investment officer Ed Grzybowski has announced that he will be retiring from the company next March. A search for his successor is now underway. Meanwhile, Carol Deckbar, who has been senior vice-president of investment products for the last five years, has been named chief operating officer of TIAA-CREF Asset Management, a newly created position. David Brown was appointed portfolio manager of the TIAA General Account, also a new position, while Lisa Black, currently managing director of Global Public Markets and head of public fixed income portfolio management, will succeed Brown.
AXA Real Estate - Kiran Patel, global head of business development, distribution, research and strategy and member of the board, has decided to leave the company after 11 years to "pursue new opportunities". His departure will be effective from 31 December. Until that time, he will assist the board as the company "works through an amended structure". Meanwhile, Sarah Leroy has been appointed global head of legal. She will be responsible for any legal issues relating to the management of real estate assets and commercial real estate loans in all regions where the company operates. Before joining in 2003, she practiced in M&A with international firms Jones Day and August & Debouzy.
Grosvenor Fund Management - Andrew Galbraith and Alexia Gottschalch have been appointed joint chief executives in the US. Galbraith, who has been with Grosvenor for more than 20 years, will act as head of investment, while Gottschalch, who joined from Cheswold/Independence Capital Partners in April, will act as head of capital markets and client service.
State Street - Keith Burman has been appointed to the newly created role of senior managing director of private equity and real estate services in Luxembourg and Ireland. He joins from Brown Brothers Harriman in Luxembourg, where he was senior vice-president. Before then, he was a chartered investment surveyor with LaSalle Investment Management and Jones Lang LaSalle in Luxembourg and London.
Legal & General Property - Adam Kerr has been appointed as head of transactions. Kerr has more than 20 years' industry experience, having held director-level positions at Kilmartin Property Group, Merrill Lynch Investment Managers and Stonehage Property Partners. The appointment follows Gordon Aitchison's promotion to director of investment and development last month.
Savills Sweden - Dante Felixson has been appointed head of the commercial property management team in Stockholm. He joins from Kungsleden Fastighets, where he managed approximately €170m worth of office, industrial and retail properties. Before then, he worked at Aberdeen Property Investors and Akademiska Hus Stockholm.
CBRE Loan Servicing - Stephen Northage joins as senior director from Barclays Capital, where he was director and head of commercial real estate asset management. Gavin Williams and John Moore join as senior asset managers, with Williams joining from Capita Asset Services UK and Moore from Hatfield Phillips.
Aberdeen Asset Management - Justin Kean has been appointed to the European property multi-manager team as a portfolio manager. He joins from ING Real Estate Select, where he was an investment manager for four years.