QuadReal taps AXA’s Lopez for CEO

Dennis Lopez is taking over as chief executive officer of QuadReal Property Group after eight years at AXA Investment Managers – Real Assets, according to an announcement Thursday.

Lopez starts as CEO of Vancouver-based QuadReal, the real estate arm of British Columbia Investment Management Corporation, on June 5. bcIMC formed the standalone real estate business in June of 2016 in a move similar to how many of its peers now manage their real estate holdings.

Previously, Lopez was the chief investment officer at AXA. He joined the firm in 2009, and prior to that worked as CEO of SUN Real Estate and global head of real estate for Cambridge Place Investment Management, according to his LinkedIn profile.

“QuadReal’s mandate to become a leading institutional real estate investment firm, with properties in Canada and around the world, captures my imagination and inspires me to lead this team,” Lopez said in a statement.

In February, AXA, which has €71 billion in assets under management, saw a round of leadership changes as Isabelle Scemama, a long-time firm veteran, replaced Pierre Vaquier as CEO. In the transition, Lopez was named to the firm’s new management board and took charge of global transactions.

Now, the personnel Lopez oversaw, including Laurent Jacquemin, European transactions head, Charles Daulon du Laurens, global head of client capital group, and Greg Mansell, global head of research, report to Scemama.

“We are fortunate that, with Dennis’ support, we have built a strong and highly professional team that will seamlessly pick up the reins from him, ensuring our clients continue to receive strong investment performance and first class service,” Scemama said.

QuadReal oversees more than C$18 billion ($13 billion; €12 billion) in real estate. Earlier this month, the firm entered the US student housing market with a $600 million equity commitment to a new partnership with private equity firm GI Partners and CA Student Living, PERE previously reported.