Pramerica Real Estate Investors has named Eric Adler as CEO, succeeding Allen Smith. Pramerica, the real estate investment management and advisory businesses, is a division of Prudential Financial, headquartered in the US.
Smith, is leaving the company after 26 years to become president and CEO of Four Seasons Hotels and Resorts. He will remain with Pramerica to assist with the transition until Adler takes the helm in September.
Adler, currently Pramerica chief investment officer, joined the company in 2010 as head of its European operations. He was promoted to chief investment officer in January 2013 to oversee the company’s global investment and risk management processes as part of the company’s long-term succession plan.
As CIO, he serves on the company’s Global Management and Global Operating Committees and chairs the Global Investment Committee.
“Eric has proven himself a terrific leader, working closely with Allen to position the firm for growth around the world,” said David Hunt, CEO of Pramerica Investment Management. “While we will miss Allen and wish him all the best in his new role, I am thrilled to have the depth of management talent that enables us to continue to build our business. Eric’s knowledge of global real estate markets brings a fresh view that will help us strengthen our current client relationships and build new ones as we seek to expand our business, particularly beyond its strong, well-known U.S. franchise.”
Before joining Pramerica, Adler, who was raised in the US, co-directed Tishman Speyer’s European activities and was a member of its Global Management and Investment committees. Earlier, he led Morgan Stanley’s MSREF’s activities in Germany, France, Italy and Spain. He also had overall operational responsibility for MSREF’s Special Situations Fund II. Before that, he worked for Credit Lyonnais and Unibail in Paris.
