Bryan Crane will join multifamily real estate manager Carmel Partners as chief investment officer and managing partner on Jan. 29, a spokeswoman said.
It is a new position, and Crane will oversee investments as well as other duties including development and construction and asset management.
Crane had been CIO of real estate manager Veritas Investments, where he led the firm's expansion into Southern California and Seattle.
"Bryan's departure has created the opportunity for the promotions of several leaders within Veritas," a spokesman said.
Aaron Reuter and Kevin Corbett have been promoted to co-heads of investments at Veritas from senior vice presidents, working alongside CEO Yat-Pang Au.
Spencer Hogan, senior vice president, has been promoted to head Veritas' Los Angeles business.
"We wish our friend Bryan and these internal promotions much success in the future," the spokesman said.