KW Capital Markets to Be Based in New York
BEVERLY HILLS, CA – June 17, 2009 – (RealEstateRama) — William J. McMorrow, chairman and chief executive officer of real estate services and investment firm/advisory firm Kennedy Wilson, today announced the appointment of Donald J. Herrema as executive vice chairman of the company and chief executive officer of its newly formed division Kennedy Wilson Capital Markets. Herrema will also join the company’s Executive Committee and be located in Kennedy Wilson’s New York City office which will open simultaneous with his appointment.
“I’ve been privileged to have known and worked with Don Herrema for over 25 years and have always been impressed with his outstanding abilities,” McMorrow said. “Don will use his accumulated expertise to assist our company in raising private and institutional capital, sourcing deals, assisting with investor relations and managing other strategic initiatives.”
Herrema’s 30-year professional career in the financial services industry began with Wells Fargo Bank where he spent almost 15 years serving in a variety of senior management positions in the commercial and real estate lending areas culminating in the presidency of Wells Fargo Securities. He subsequently moved on to become chief operating officer and chief executive officer of Bessemer Trust in New York. He has also served on the executive board of INVESCO, later becoming managing director and the Americas head of Morgan Stanley’s Private Wealth Management Group. A native Southern Californian, Herrema holds a Bachelors degree from Whittier College and a Masters in Economics from the University of Southern California. “Don’s vast experience in the financial services industry will materially assist us in developing our new Capital Markets Division, as well as establishing the Kennedy Wilson brand on the East Coast,” McMorrow went on.
Herrema said he was excited to be joining the Kennedy Wilson team. “The company is known for its entrepreneurial culture and its real estate investing prowess. It’s currently expanding both its reach and its capabilities and I look forward to the opportunity to be part of that dynamic growth working closely with my long-time friend Bill McMorrow and his outstanding professional team.”
While assuming his new duties with Kennedy Wilson, Herrema remains a director of TD Bank Asset Management USA Funds; director, Lepercq, de Neuflize and Co.; and, a senior advisor to Stone Point Capital. “I believe these continuing relationships will be synergistic to my responsibilities at Kennedy Wilson, giving me entree to providers of both private and institutional capital,” Herrema emphasized.
Founded in 1977, Kennedy Wilson is an international real estate services and investment/advisory firm headquartered in Beverly Hills, CA. It operates 21 offices in the U.S. and Japan. Kennedy Wilson seeks opportunities in partnership with clients in pursuit of above-market investor returns and increased real estate values.
