A company spokesman says a succession plan has been underway for 12 months. "After 32 years, Abelmann feels it is time to hand the role over to the next generation of leadership," the spokesman says. "The decision was based on Bibby's overall experience, leadership qualities and property skills."
Jeremy Newsum, group CEO, said Abelmann's expertise and experience have been invaluable to the company. "Bill leaves Grosvenor Americas in robust shape and well-equipped to weather the current volatile market in the US and Canada."
Bibby has been with the international property development, investment and fund management business for 24 years, where he has been involved with almost every major area of business. The spokesman says the company is a strong player in the US and Canada real estate markets, and has a healthy development pipeline, with total assets under management at $22.9 billion as of June 2007.
Americas projects by the company include the $105 million retail-residential project called the Rise in Vancouver, which is due to be completed this year. The company also owns 185 Post St. in San Francisco, leased to De Beers jewelers for its flagship retail store.
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