Edmond de Rothschild Group has appointed François Grandvoinnet to the position of chairman of its French property arm, Cleaveland.
He will replace Laurent Fermaut and Dominique Bonin, Cleaveland’s founders, who will leave the company at the end of this year following a succession plan.
Edmond de Rothschild’s acquisition of 100% of the company took place in June 2016. Cleaveland was originally founded in 2005, and now manages €6.2 bn for third parties.
Additionally, Lyes Badji, finance director since 2012, will be appointed managing director of Cleaveland while Clément Brazy, currently senior fund manager, will take over Badij’ current function.
Grandvoinnet, aged 53, has more than 30 years’ experience in real estate. Before joining Edmond de Rothschild, he was chairman of Aviva Investors Real Estate France. He previously held various positions in companies including AXA REIM, CBRE Global Investors and AEW, both in France and abroad.