MONEY MANAGEMENT

Madison International Realty promotes 2 to co-CIO

Carey Flaherty and Derek Jacobson were promoted to the new positions of co-chief investment officers at real estate money management firm Madison International Realty, confirmed spokeswoman Michelle Manoff in an email.

Both are assuming additional responsibilities and expanding their managing director roles at the firm, she wrote. Mr. Flaherty joined Madison International in 2003 and oversees Madison’s U.S. portfolio. Mr. Jacobson oversees Madison’s European investments.

“I am delighted by the recognition we are affording these two talented executives,” said Ronald M. Dickerman, Madison founder and president, in a news release. “Given the growth of our business … it was the appropriate next step to continue the systematic and regimented way Madison approaches sourcing, underwriting, and execution.”

Madison International has about $3.1 billion in assets under management.