Transwestern has hired a veteran chief financial officer to take over its CFO role as the real estate company prepares for its next phase of growth during a challenging economy.
The Houston-based firm tapped Adam Altsuler to fill the CFO position that opened last year when Steve Harding, who had been in the position for 21 years, was promoted to chief transformation officer, or CTO.
In his new role, Altsuler will set fiscal priorities and oversee all financial matters for Transwestern as it executes a business transformation, the company said. He also has joined the firm’s executive committee.
Altsuler takes over as CEO as Transwestern "continues to evolve and grow," and his financial experience will help it do so, CEO Larry Heard said in a statement.
Transwestern is working to expand its business as a time when the Congressional Budget Office, in its 2024-2034 economic outlook report, expressed its concerns of economic growth for the next 12 months
Altsuler previously served as executive vice president and CFO of U.S. Development Group, a company that owns and manages logistics centers and energy infrastructure. He also worked in investment banking, having held positions at Donaldson, Lufkin and Jenrette, which Credit Suisse acquired, and Eagle Rock Energy Partners.
This is Transwestern’s second major personnel announcement within a week.
The Houston-based firm also named Brian Delgado, a commercial real estate finance and capital raising veteran, as its new senior managing director and global head of capital markets. Delgado has more than two decades of experience working with U.S. and foreign institutional investors, pensions funds, sovereign wealth funds, foundations and family offices.
Delgado will work with Charles Hazen, president of Transwestern Investment Group, and Carleton Riser, president of Transwestern Development Co., to lead business development and capital-raising efforts for Transwestern's companies, the firm said.