CRE Finance Council Names Paul Vanderslice New CEO – Commercial Observer
The CRE Finance Council has turned to a commercial real estate banking veteran as its next leader.
The leading trade organization for commercial real estate finance professionals announced Friday morning that Paul Vanderslice, who has led BMO’s commercial mortgage-backed securities platform for the last six years, will be assuming the role of president and CEO effective Sept. 30. He will replace Lisa Pendergast, who retired in August after 10 years leading CREFC.
Vanderslice’s new role leading CREFC will also mean his departure from BMO with his last day there scheduled for Sept. 29.
Prior to joining BMO Capital Markets in 2020, Vanderslice held senior leadership roles in CRE finance at CCRE and Citigroup. He has been a CREFC member for nearly three decades, including a stint as chair of both the group’s executive committee and board of governors from 2012 to 2013.
“Paul brings deep industry expertise, a longstanding commitment to CREFC, and a clear understanding of the issues and opportunities facing our members,” Toby Cobb, co-founder and co-managing partner of 3650 Capital and chair of CREFC’s executive committee and board of governors, said in a statement. “Having previously served as chair and as a current member of the board of governors, Paul knows the organization and the industry exceptionally well. We look forward to his leadership as we enter this next chapter.”
Vanderslice joined BMO Capital Markets, a subsidiary of Bank of Montreal, in September 2020 to launch and lead the bank’s CMBS platform after spending two years as CEO of CCRE. He spent more than 30 years at Citigroup, where he helped build up the bank’s CMBS business.
Leland Bunch, chair of CREFC’s CEO search committee and managing director at Bank of America, said a number of candidates were considered from across the CRE industry and leasing U.S. trade associations.
“Paul distinguished himself through his lifelong commitment to commercial real estate and his longstanding dedication to CREFC,” Bunch said in a statement. “We are delighted to welcome him as our next president and CEO, and look forward to the leadership and vision he will bring to the organization.”
Andrew Coen can be reached at acoen@commercialobserver.com.
