Michael Levy was named CEO at real estate developer and manager Crow Holdings, replacing Harlan Crow as part of the firm's long-term succession planning, said Jonathan Morgan, spokesman, in an email.
At the same time, Anne Raymond will be leaving her posts as president of Crow Holdings Capital, the company's North American real estate money management arm, and managing director of family office Crow Family Holdings to join the Crow Holdings board. It could not be immediately be learned how Ms. Raymond will be replaced.
"For me and my family, Crow Holdings constitutes a major part of our lives," said Mr. Crow said in a news release. "The process of seeking and finding succeeding leadership has transcending importance and I am confident that in Michael Levy, we have hit the trifecta of integrity, intelligence and leadership."
Mr. Crow will continue to serve as chairman.
Mr. Levy joined the company's senior leadership team in 2016 from Morgan Stanley Investment Management where he had been chief operating officer. Mr. Levy will continue performing his prior duties that focused on business development, investment strategy and broader initiatives.