NEW YORK CITY-Industry super-star Ethan Penner, often cited as the father of CMBS, is stepping away from his role as president of CBRE Capital Partners. According to a company statement obtained by GlobeSt.com, the decision was mutual.

His last day will be March 31. Frank Scavone will take the helm of the group once Penner exits. For the next six months Penner will continue to serve as advisor to the funds the group oversees and, in the words of the statement, “ensure a smooth transition.”

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He will also retain a substantial co-investment in the funds. Before his stint at CBRE, he made his name at Nomura Securities where, according to a Fortune Magazine article, “he single-handedly jump-started the national real estate market, making $35 billion of loans in five years. Even more impressive, he created a huge market for Nomura's debt. Penner stirred up big batches, sliced them up into pieces with varying degrees of risk, and fed them to institutional investors.”