Nick Cooper, founder and CEO of ING Real Estate Select, will leave the firm at the end of the month, according to spokeswoman Helen Stott.
“I believe Select is a great team, and I will be sad not to be part of it in the future,” Mr. Cooper said in a statement. “The recent decision (by firm officials) to relocate the global Select business to the Netherlands does not, however, fit into my life or career plans at this time, and I have therefore declined ING Real Estate's offer to remain part of the business.”
ING officials are expected to announce a replacement shortly, Ms. Stott said; she would not elaborate.
ING Real Estate Select is a real estate multimanager business with about €3.8 billion ($5.6 billion) in assets under management. The firm is part of ING Real Estate Investment Management, which has €65 billion in assets under management.