Alison Lambert has taken over as chair of the CRE Finance Council Europe, the body that represents the commercial real estate lending industry.
The chief financial officer of Martley Group replaces Nassar Hussain, founder of Brookland, who remains on CREFC's board as immediate past chair of the industry body.
In a change from the past, Lambert is expected to serve two years as chair, because the board concluded that the traditional one-year term was too short to allow the chair to get the most out of, and put the most into, the role.
The council said that in a sign of its commitment to cover the full breadth of commercial real estate markets, it has elevated a representative from the borrowing side of the industry to its most senior member role.
Membership of CRE Finance Council, a trade association for the commercial real estate finance industry, includes securitized lenders, loan and bond investors, loan servicers, private equity firms and rating agencies. The finance industry "plays a critical role in the financing of office buildings, industrial and warehouse properties, multifamily housing, retail facilities, hotels, and other types of commercial real estate" that play a critical role in the economy, the organization said.
Members of the CRE Financial Council executive committee work for Bank of America, TPG Real Estate Finance, Ares Management, Starwood Property Trust and other major banks and institutional investment firms.
The body's executive director, Lisa Pendergast, is based in its North American headquarters in New York.
The borrower contingent of the organization's board has also been increased, with Michela Hancock, managing director, Greystar, elected to a three-year term as a Europe director.
She has been actively involved with the body in Europe since 2016 as a member of the board of advisers in recent years.