The CRE Finance Council (CREFC) has appointed a seasoned commercial real estate banking professional as its next leader. The leading trade organisation for commercial real estate finance professionals announced on Friday morning that Paul Vanderslice would assume the role of President and CEO. Vanderslice, who has led BMO’s commercial mortgage-backed securities (CMBS) platform for the past six years, will take up the position from 30 September. He succeeds Lisa Pendergast, who retired in August after a decade at the helm of CREFC.
With his new position at CREFC, Vanderslice will depart BMO; his last day there is scheduled for 29 September. Before joining BMO Capital Markets in 2020, Vanderslice held senior CRE finance roles at CCRE and Citigroup. He has been a member of CREFC for almost three decades and served as Chairman of the organisation’s Executive Committee and Board of Governors from 2012 to 2013.
Toby Cobb, co-founder and co-managing partner of 3650 Capital and Chairman of CREFC’s Executive Committee and Board of Governors, commented on the appointment in a statement. He stated that Paul brings deep industry knowledge, a long-standing commitment to CREFC, and a clear understanding of the challenges and opportunities facing members. As Vanderslice previously served as Chairman and is currently a Board of Governors member, he knows the organisation and the industry exceptionally well. They look forward to his leadership as they begin this next chapter.
Vanderslice joined BMO Capital Markets, a subsidiary of the Bank of Montreal, in September 2020 to build and lead the bank’s CMBS platform. Prior to that, he spent two years as CEO of CCRE. He spent more than 30 years at Citigroup, where he was instrumental in establishing the bank’s CMBS business.
Leland Bunch, Chairman of CREFC’s CEO Search Committee and Managing Director at Bank of America, reported that a number of candidates from across the CRE industry and leading US trade associations were considered. According to Bunch, Paul distinguished himself through his lifelong commitment to commercial real estate and his long-standing dedication to CREFC. The committee was pleased to welcome him as the next President and CEO and anticipated the leadership and vision he would bring to the organisation.
