Paul J. Nasser has been promoted to president of real estate manager and developer Intercontinental Real Estate.
He replaces Peter Palandjian, who remains CEO and chairman, Mr. Palandjian said in an email.
He will continue to manage the firm's investment and operational resources including oversight of performance reporting, investor relations, accounting, finance, marketing, human resources, technology and administration.
Mr. Nasser has been with Intercontinental for 22 years and was chief financial officer and chief operating officer. David S. Carella was promoted to chief financial officer from director of corporate finance. The position of COO is currently an open position.
Intercontinental Real Estate had $15.4 billion in assets under management as of Sept. 30
