There is a change in the leadership of the French property firm, which is now 100 per cent owned by the international group.

Edmond de Rothschild, the international wealth manager, has appointed François Grandvoinnet to head up the activity of Cleaveland, the French arm of the group’s real estate platform, which it bought in Jun 2016.

Grandvoinet is chairman of Cleaveland, an investment company which was set up in 2005, and now manages €6.2 billion ($6.84 billion) for third parties. Grandvoinnet will replace Laurent Fermaut and Dominique Bonin, Cleaveland’s founders, who will leave the company at the end of this year following a succession plan.

By way of comparison, Edmond de Rothschild in total oversees a total of €150 billion of client assets. 

Among other changes, Lyes Badji, who has been finance director since 2012, will be appointed managing director of Cleaveland while Clément Brazy, senior fund manager, will take over Badi’s function.

Grandvoinnet has more than 30 years’ experience in real Estate. Before joining Edmond de Rothschild, he was chairman of Aviva Investors Real Estate France. He had previously held various positions in leading companies including AXA REIM, CBRE Global Investors and AEW, both in France and abroad. He is a graduate of the Paris-Dauphine University.