Marc DeLuca was promoted to CEO of real estate money manager KBS Realty Advisors, replacing co-founder and former CEO Charles J. Schreiber, said Ginny Walker, spokeswoman, in an email.
Mr. DeLuca was Eastern regional president of KBS. He will retain those duties while taking over strategic management of the company, the release said.
Mr. Schreiber will take on a new role as president and chairman of KBS and will remain a member of KBS' leadership team. Co-founder Peter Bren was chairman and president until his death in 2019.
KBS Realty had $7.4 billion in assets under management as of Sept. 30.
