Olney Named New CEO of Berkshire After Leitner Departure to CBRE GlobalOctober 14, 2019
BOSTON–Barely a week after CBRE announced former Berkshire CEO, Chuck Leitner as their new CEO of Global Investors, Berkshire Residential Investments officially reported the promotion of David Olney to Chief Executive Officer.
Olney is a Partner and 33-year veteran of Berkshire, who led the Company’s investment strategy and execution as Chief Investment Officer and Chair of the Investment Committee over the last two decades. According to a release, Olney has played an integral role in all aspects of the Company’s evolution into a vertically-integrated, institutional investment manager and operator specializing in U.S. rental housing with over $8.7 billion in real estate assets under management.
The officical notification of Olney’s promotion to CEO comes just over a week after CBRE celebrated its hire of Leitner, Bershire’s previous CEO since 2013, who oversaw all aspects of the Boston-based company’s operations.
“David is an experienced and disciplined fiduciary who embodies the institutional approach and entrepreneurial spirit that Berkshire has exhibited throughout its history,” noted Ron Blankenship, Berkshire’s Chairman of the Board. “He has the full support of Berkshire’s Board, Executive Team and over 650 employees. Under David’s leadership, Berkshire will continue to execute for our investors and create exceptional living experiences for our residents.”
“I am deeply honored to assume this role and support every member of Berkshire to be best-in-class for our investors and residents,” stated Olney. “Berkshire has an incredible team that is dedicated to delivering results. I look forward to growing our business, leading our investment efforts and continuing to establish and enhance relationships with our investors.”
Since joining Berkshire in 1986, Olney has executed on over $12 billion of investments in the U.S. rental housing sector. He received a Bachelor of Science degree from Bryant College and an MBA from Babson College. Olney currently serves as an executive board member of the National Multifamily Housing Council.Chuck Leitner David Olney