Investment firm W. P. Carey & Co. LLC (NYSE: WPC) has announced the appointment of Jason Fox and Gino Sabatini as Co-Heads of Global Investments.
Fox will oversee the firm's international acquisitions activities, including investment teams based in the firm's European and Asian offices as well as business development initiatives in other international markets. Sabatini will oversee North American acquisitions activities, which include the United States and Canada.
Both Fox and Sabatini will continue to be based in the firm's New York office. The firm also announced the departure of H. Cabot Lodge, III, who had served as Head of European Investments. The European team will continue to be led on the ground by senior investment officers Jeffrey LeFleur, Jennifer Lucas, and Arvi Luoma.
Regarding the appointments of Jason Fox and Gino Sabatini, W. P. Carey President and CEO Trevor Bond noted, "As our international investment strategy expands beyond Europe and becomes increasingly global, our challenge is to balance risk and reward on a global basis while maintaining the hands-on deal focus that has contributed to our success for nearly 40 years. Consolidating our regional acquisitions teams under a single management structure will allow us to achieve this goal.
"With Gino and Jason having effectively co-managed the Domestic Investment Team for the past two years, they were the ideal choice to share oversight of the consolidation, coordination and ongoing management of our global investment activities. With nearly 25 years of company experience between them, they represent the depth and breadth of successful deal history that has allowed us to continue to diversify our acquisitions on behalf of the Company and our CPA series of investment funds."
Bond added, "The worldwide application of Gino and Jason's knowledge of the sale-leaseback business and the disciplined investment process that distinguishes W. P. Carey from other investors is a tremendous asset for the company, its shareholders and the investors in our non-traded REITs. Their strengths as leaders, mentors and proven dealmakers is emblematic of the caliber and quality of individuals W. P. Carey is able to draw on in all areas of our business. We congratulate them on their new responsibilities."
Bond also noted, "We wish Cabot well as he starts his own advisory business. He did an outstanding job for the Company overseeing our European investments during these past two years. We're pleased that he will remain as a board member of our UK subsidiary, W. P. Carey & Co. Ltd. Despite the challenges in the European economy, we continue to identify potential investments in Europe and have a seasoned and talented team in place to execute on them."
Fox joined the W. P. Carey Investment Department in 2002 and has served in various positions of increasing responsibility since then. A magna cum laude graduate of the University of Notre Dame, Mr. Fox earned his MBA from Harvard Business School.
Gino Sabatini joined the W. P. Carey Investment Department in 2000. He is a graduate of the University of Pennsylvania, where he earned both a B.Sc. in Mechanical Engineering from the Engineering School and a B.Sc. in Economics from the Wharton School. He received an MBA from Harvard Business School.
Source: Pelham Bell Pottinger