There are changes at the top for real estate investor Ivanhoé Cambridge, as its leader for the past decade steps down.
Daniel Fournier has announced his retirement after more than ten years of service at Caisse de dépôt et placement du Québec, including nine as CEO at Ivanhoé. He will continue in his role until October 15, 2019.
"Daniel has done an outstanding job turning Ivanhoé Cambridge into one of the world's largest real estate investors. Thanks to him and his team, Ivanhoé Cambridge has built world-class expertise in acquiring, developing and managing real estate assets. His legacy – a unified and truly global real estate company with a clear strategy and solid execution capability – is one that CDPQ will be able to build upon for generations," said Michael Sabia, President and Chief Executive Officer of CDPQ.
With more than 30 years of real estate experience, Fournier has guided the firm as it has built a global portfolio in the residential, office, and logistics sectors. He has overseen assets more than doubling to $65 billion and average annual returns of 11.8%.
Fournier will be succeeded by Nathalie Palladitcheff as President and Chief Executive Officer. she joined the company in 2015 and has been leading the company’s strategic planning process, supervised the company's overall financial activities and was responsible for human resources, legal affairs and information technology.
Ms. Palladitcheff has many years of experience in real estate investment and she will work closely with Sylvain Fortier, Chief Investment and Innovation Officer, whose functions were expanded and include responsibility for the company's overall investment activities.
"It's a real honour for me to take the reins of this company, which has a solid foundation and a future filled with possibilities. I'd like to thank Daniel for his trust and commitment to preparing his succession. Supported by the strong team in place, Sylvain and I will carry on the work he started and push the boundaries of this industry in transformation," said Ms. Palladitcheff.