New initiative to invest up to $300 million in real estate projects in Quebec
March 28, 2013
/CNW Telbec/ -
, Chairman and Chief Executive Officer of Ivanhoé
, today announced changes in the Company's organizational structure, with three main objectives: to reassign operational responsibilities in
, to strengthen its
team by adding specialized resources needed to manage a larger presence here and to better define its platforms in
the United States
and in emerging markets.
is already a leader in
real estate sector with assets of
, including more than
. Building on this strong presence, one of Ivanhoé
core priorities is to strengthen its positioning here and to encourage the growth of its activities and investments.
Co-Chief Operating Officers
, Executive Vice President, Commercial Investment and Emerging Markets, is promoted to Co-Chief Operating Officer and Executive Vice President,
, Executive Vice President, Operations, Central and
Western North America
, is promoted to Co-Chief Operating Officer and Executive Vice President, Central and Western Regions. Both will report to Mr. Fournier. These appointments take effect immediately.
Mr. Sirois will be responsible for all of the Company's activities in
, in the areas of both investments and operations. In addition, he will oversee the implementation of future construction and development projects in
. He will work closely with Mr. Drohomirecki, whose responsibilities will include operational activities in
. Together, these two executives will be responsible for all operational activities in
in assets around the world now, and in light of the growing scope of our operations in
, we are revisiting our approach to this country," Mr. Fournier said. "The appointments of Claude and Roman to these strategic positions confirm our strong preference for internal talent. We now have two strong, very experienced people, who know the organization and are respected by everyone, to head our largest platform,
. In this way, we will have an organizational structure that is well adapted to our needs; one that will enable us to better manage our assets by being closer to local markets and, consequently, to our tenants and partners."
, Senior Vice President, Eastern North American Portfolio, becomes Senior Vice President, Quebec Real Estate Capital. As such, he will be responsible for a new initiative to invest up to
in promising real estate projects in
. He will report to Mr. Sirois.
"We are very familiar with
real estate market, which is a valuable competitive advantage that we want to fully capitalize on," Mr. Fournier added. "We are convinced of the structuring potential of this initiative to generate attractive returns, while at the same time contributing to
economic development. Jean's solid knowledge and his well-established network in
real estate market will unquestionably be assets in the implementation of this program."
Executive Vice President,
, is responsible for investments and for asset management in
, which represents about 20% of Ivanhoé
total assets. She reports to
, President, Global Investments.
, Executive Vice President, Investments, will now focus on investment management and asset management in the U.S., in collaboration with Callahan Capital Partners. This is a market where Ivanhoé
wants to post strong growth. Mr. Adamakakis will report to Mr. Tresham.
EMERGING MARKETS PLATFORM
, Vice President, Asset Management, Emerging Markets, is promoted to Senior Vice President, Emerging Markets. He will now be responsible for
, which represent together about 6% of the Company's assets. Louis will report to Mr. Tresham. With
, Vice President and General Manager,
, will report to
Mr. Sirois will continue to chair the Board of Directors of the joint venture Ancar Ivanhoe in
, which manages more than twenty shopping centres. He will therefore be able to provide his international colleagues with the added-benefit of his extensive experience in emerging markets and his in-depth knowledge of the Brazilian market.
About Ivanhoé Cambridge
is a world-class real estate company that leverages its high-level expertise in all aspects of real estate including investment, development, asset management, leasing and operations, to deliver an optimal return for its investors. Through its multiple subsidiaries, its assets in more than 20 countries are valued at over
December 31, 2012
is a real estate subsidiary of the Caisse de dépôt et placement du Québec (
), one of
leading institutional fund managers. For more information, visit