Real estate asset manager Buchanan Street Partners has promoted founder and CIO Tim Ballard to the role of president, the firm announced yesterday.

Ballard has been responsible for Buchanan Street’s investing activities and has directed over $5 billion of real estate investments as CIO, a Dec. 15 press release said.

Additionally, he is credited with forming five commingled funds and separate accounts for the purposed of making value-added investments. The funds contain the assets of large public plan sponsors, life insurance companies, corporate pension plans and high net worth clients.

He will retain his previous job title.

Buchanan Street has also promoted CFO Dominic Petrucci to the role of chief operating officer. He will also continue to serve as CFO.

Petricci joined the firm in 2008. As chief operating officer, he will have operational oversight of Buchanan Street and responsibility for asset management, finance, investment accounting and reporting, information technology, risk management and regulatory compliance.

“The promotion of Tim Ballard and Dominic Petrucci is a result of their valuable contributions to the firm and is further affirmation of Buchanan Street’s excellent depth of senior leadership,” Buchanan Street CEO and Chairman Robert Brunswick said in the statement. “I have worked with Tim for over 15 years and find him to be a rare combination of excellent investment acumen and strategic leadership. Dominic’s joining the firm a year ago and now promotion to [chief operating officer] is an example of Buchanan’s efforts to promote from within the company and recruit seasoned professionals as we further our investment management business.”

Buchanan Street is a subsidiary of The TCW Group. The firm is based in Newport Beach, Calif.

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