NEW YORK CITY-Mark Costello, the managing partner Ernst & Young’s Americas Construction & Real Estate Advisory Services practice, has been promoted to global leader of the organization’s real estate advisory practice, E&Y’s Howard Roth announced late Friday. Roth is Global Leader of the firm's Real Estate Group. Costello will replace former global advisory leader Malcolm Bairstow, who will continue to head E&Y’s Global Infrastructure & Construction practice.

Costello, who grew E&Y’s CREAS practice in the Americas to nearly 100 employees across Dallas, Los Angeles and New York, will now take a greater international role--which he describes as a natural fit. “With the movement of capital and corporations becoming ever more global, I look forward to increasing our cross-border support for large-scale real estate transformation projects and other real estate advisory projects,” he says, in a statement. “A properly structured global real estate advisory network can be instrumental in assisting our clients with large-scale capital projects anywhere in the world.”

In the company announcement, Roth says Costello has “assembled an extensive knowledge” of the real estate sector, including hands-on real estate experience in brokerage, property and asset management, development and corporate management, which has grown to encompass advisory capabilities in strategic planning, enterprise cost reduction, portfolio management, process improvement and organizational design.