NEW YORK CITY—As Americas head Kevin R. Smith prepares to retire from PGIM Real Estate after 36 years, the company has announced a series of new leadership roles for some of its key executives. Twenty-year company veteran Cathy Marcus has become head of PGIM Real Estate's US business while continuing to serve as global COO, and Americas CIO Alfonso Munk will take on the additional duties of serving as Latin America head.
Both roles were effective at the start of 2018. Smith's planned retirement this coming March and the succession plans were announced to investors this past May.
Since joining PGIM Real Estate in 1998, Marcus has served in a variety of transactions and portfolio management roles, including senior portfolio manager for PGIM Real Estate's flagship core equity real estate fund. As head of the US business, she's now responsible for the development and implementation of PGIM Real Estate's strategy and operations in this country, with oversight of US portfolio and asset management.
Munk joined the company in 2012 to help lead the Latin America business, and retained oversight of day-to-day Latin America operations upon his appointment to Americas CIO in 2015. As head of Latin America, Munk is responsible for the development and implementation of PGIM Real Estate's strategy and operations in Latin America, and has oversight of portfolio and asset management in the region.
Supporting Marcus, Philip Barrett, PGIM Real Estate's global chief investment risk officer, has assumed a new and expanded role managing the company's day-to-day business and investment operations globally. Further, Len Kaplan, currently head of Customized Investment Strategies, was named global chief investment risk officer.
“Cathy and Alfonso each bring significant real estate investment management experience and in-depth knowledge of our platform to their roles,” says Eric Adler, CEO of PGIM Real Estate. Through a nearly four-decade career at PGIM Real Estate, Smith has served as “a thoughtful and astute investor, partner and mentor, and embodied PGIM Real Estate's client-centric culture and steadfast commitment to transparency and integrity. We thank Kevin for his tremendous contributions and wish him happiness in his well-deserved retirement.”
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
