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CREFC Brings Back Mike Flood as Deputy Exec Director

WASHINGTON, DC—The association is undergoing a transition, executives say.

By Erika Morphy | erikamorphy | | Updated on April 12, 2016
The District's K street The District’s K street
WASHINGTON, DC—The Washington DC-based CRE Finance Council, or CREFC, announced that it has recruited Mike Flood, a former CREFC executive, back to the association in the role of deputy executive director. His arrival follows by several days the sudden departure  of CEO Steve Renna and EVP Stacy Stathopoulos . The financial publication Global Capital broke the news about Renna’s and Stathopoulos’ exit from the the association. Later, CREFC confirmed that Renna and Stathopoulos had left the organization to GlobeSt.com and that it was part of a management restructuring.  It also said that Tim Gallagher, CREFC’s immediate past chairman, had been charged with leading the association’s restructuring. Flood’s CV Flood was vice-president of Policy & Economic Research and vice-president of Government Relations between 2010 and 2013. Most recently, he was director of Advocacy for the Washington DC-based association, the Structured Finance Industry Group, a group that has some overlap in coverage with CREFC. According to a prepared statement by Flood, the two groups have agreed to some form of cooperation. He said:
I’m excited to rejoin Marty and Christina to continue to make CREFC a strong member-driven organization. In the meantime, I appreciate that SFIG and CREFC are working together to ensure both organizations’ constituencies are served during this transition period and beyond.

“Marty and Christina” are Martin Schuh, vice president of Legislative and Regulatory Policy and Christina Zausner, vice president of Industry and Policy Analysis. Their names were also referenced by Gregory Michaud, managing director and head of Real Estate Finance for Voya Investment Management, and chairman of CREFC’s Board of Directors in his prepared statement.

I also want to acknowledge the critical contributions of our current CREFC staff at this time. Christina Zausner, our Vice President of Industry and Policy Analysis, and Martin Schuh, our Vice President of Legislative and Regulatory Policy, have especially been invaluable in their role as the collective engine behind the organization.

Why the Change? GlobeSt.com asked CREFC what prompted the management transition. Spokesperson Cary Brazeman responded that Flood’s appointment “is the second step in implementing regime change as part of the restructuring of CREFC.” He continued:

Mike Flood is a familiar face but he is returning in a new role.  Together with the new executive director, who likely will come from within the industry, they will help the board complete their top-to-bottom review of the organization and evolve CREFC to serve the industry even better.

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