Scott Brown has been appointed global chief executive of Cornerstone Real Estate Advisers.
David Reilly, who has stepped down as chief executive ahead of his formal retirement in April, will remain at the firm as vice-chairman of the board.
Brown is president of the company and in addition will become CEO. He joined Cornerstone in February 2014, before which he was head of the Americas at CBRE Global Investment Partners.
Reilly said: “Over the past year that Scott has been with the firm, he has demonstrated sound business judgment and a leadership style that marries well with Cornerstone’s culture.”
Brown said: “Dave’s knowledge of the firm and the industry is unparalleled and our ability to retain him as a resource will further bolster the seamless transition that has occurred, to the benefit of our clients, employees and other stakeholders.”
