Chris Lipton was named managing director and head of timberland investment at GreenWood Resources.
He replaced Jeff Nuss, founder, CEO and president who left the firm on May 5, a spokeswoman said in an email. Mr. Lipton joined GreenWood on April 1 to allow for a one-month transition, she said.
Mr. Lipton, who reports to Martin Davies, president and CEO of Westchester Group Investment Management, oversees all the investments and operations at the Nuveen-owned timberland money management specialist. Westchester is also a subsidiary of Nuveen.
He was previously managing director of timberland acquisitions at Hancock Natural Resource Group. Elizabeth Bartlett, spokeswoman at Manulife Investment Management, of which Hancock is a subsidiary, said David Kimbrough, managing director of Hancock’s disposition program, has been named managing director of timberland acquisition and disposition, taking on Mr Lipton’s responsibilities while a permanent successor is sought.
GreenWood Resources has $1.7 billion in assets under management.