Scott D. Brown, who arrived a year ago as president at Hartford’s Cornerstone Real Estate Advisers, has taken the reins as global CEO from David J. Reilly, who is retiring April 30, the firm says.
Also effective on Jan. 1, Reilly sidestepped into a slot as vice chairman for his last three months with Cornerstone, the global real estate-assets manager-advisor announced Thursday.
Brown, 51, joined Cornerstone last February from CBRE Global Investment Partners, succeeding Reilly as president.
Reilly, who was named CEO in 2006 and pushed Cornerstone’s global realty investments/assets under management from $6 billion to $45 billion, will guide Brown and his lieutenants on strategic issues and special assignments.