Richard Ellis has appointed Jean Lamothe as president of its Europe business.
The Los Angeles private equity real estate firm said it had created the position for Lamothe, who worked for Canadian fund manager, Caisse de dépôt et placement du Québec in various roles including managing director for Latin America, and managing director of Asia.
He will be responsible for the strategic direction, operations, financial results, day-to-day management and leadership of CBRE Investor’s pan-European platform, the firm said. He also will oversee the existing direct investment programs and lead new business initiatives in Europe.
After working at Caisse, Lamothe became president and chief executive officer at French real estate company, Otéra Capital, where he managed a portfolio of more than €13 billion and a team of 300.
Matt Khourie, chief executive of CBRE Investors, said in a statement: “Jean is a seasoned professional who will be a valuable addition to our leadership team. His appointment demonstrates our commitment to this region.”
The announcement comes months after two key European figures left. Thibault de Valence and chief executive officer Francois Lex quit the real estate investment management business in February and their responsibilities were assumed by Peter DiCorpo, who was promoted from global chief operating officer to head of continental Europe; Christine Sonnier, who was promoted from managing director to co-directeur general for continental Europe and; Jerome Castelnau, who is also promoted from managing director to co-directeur general for continental Europe.
CBRE has around $12.7 billion of assets under management. It is reportedly among several parties interested in bidding for ING Real Estate Investment Management.