The succession plan has been in the works for the past 12months. A company source tells GlobeSt.com that Bibby will beginworking out of the company's offices on the 25th floor of 1California St. sometime in the second half of the year. Bibby wasnot available Thursday afternoon for comment. His replacement aschief development officer is expected to be named this summer.

|

"After 32 years, Abelmann feels it is time to hand the role overto the next generation of leadership," the source says. "Thedecision [to promote Bibby] was based on Bibby's overallexperience, leadership qualities and property skills."

|

Jeremy Newsum, group CEO, says Abelmann's expertise andexperience have been invaluable to the company. "Bill leavesGrosvenor Americas in robust shape and well-equipped to weather thecurrent volatile market in the US and Canada," he says.

|

A 24-year veteran of the company, Bibby has been involved withnearly every major area of Grosvernor's business during his tenure.As chief development officer, he oversees the developmentactivities for the business throughout Canada and the US. Inaddition to development, Bibby also has extensive experience withthe asset management, acquisition and disposition of incomeproducing properties and mezzanine lending.

|

Grosvenor had nearly $23 billion of assets under management asof last year. Grosvenor Americas projects include the $105 millionretail-residential project called the Rise in Vancouver, which isdue to be completed this year. The company also owns 185 Post St.in San Francisco, which is leased to De Beers jewelers for itsflagship retail store.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.