USAA RealCo exec retires after 32 years

Susan Wallace, who led USAA Real Estate Company’s Global Investors Group, is stepping down at the end of June.

Susan Wallace, an executive managing director for USAA Real Estate Company (RealCo), is retiring after 32 years at the real estate arm of financial services firm USAA, the firm said Wednesday.

Wallace, who began her time at USAA RealCo as head of acquisitions and dispositions not long after the platform was founded in 1982, will leave on June 30. She rose to leading the firm’s Global Investors Group, stepping down from the position in 2014 as part of a succession plan.

“In Europe, we brought in Max von Below to our Amsterdam office in 2014 with the intention that he would assume Susan's responsibilities in that region. With her retirement he has now assumed full responsibility for our European marketing capabilities,” said Scott Stuckman, head of the Global Investors Group, in a statement. “In the US and Asia, we have also added numerous staff and resources to the Global Investors Group assuring the smooth marketing leadership transitions for those regions as well.”

USAA RealCo, which has about $15 billion in assets under management, according to Wednesday’s statement, invests across asset classes and in real estate operating companies. In 2000, Wallace led the firm into third-party asset management.

“I have been extremely fortunate to be part of an organization with as much integrity as USAA Real Estate Company for so many years and to have had the opportunity to watch the business grow and evolve during my tenure,” Wallace said in Wednesday’s statement. “It has been a true pleasure to know and work with fine industry leaders around the world. Now I look forward to seeing what the future holds for me, as I treat myself to more leisure and family time.”