Prudential Taps Adler as New CEO
- Aug 01, 2013
Anna Spiewak, News Editor
One of the largest real estate investment management and advisory businesses in the world Prudential Real Estate Investors promoted its chief investment officer Eric Adler to the CEO position, following the departure of current CEO Allen Smith, who after 26 years of service has gone to become CEO of Four Seasons Hotels and Resorts, both companies announced in a press release Thursday morning.
Adler joined the company in 2010 as head of European operations. He was later promoted to CIO 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 PREI’s Global Management and Global Operating Committees and chairs the Global Investment Committee.
“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 PREI’s business, particularly beyond its strong, well-known U.S. franchise,” said David Hunt, CEO of Prudential Investment Management.
Adler previously worked at Tishman Speyer Properties L.P. and Morgan Stanley. He holds a bachelor’s degree from the University of Arizona., and a graduate business degree from HEC Business School in France.
PREI is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Headquartered in Madison, N.J., PREI has holds offices in Atlanta, Chicago, Miami, New York, San Francisco, London, Lisbon, Luxembourg, Munich, Frankfurt, Paris, Istanbul, Abu Dhabi, Mexico City, Sao Paulo, Beijing, Hong Kong, Seoul, Singapore, and Tokyo.
Neither Adler nor Smith were available for comment at press time.