Carrington Companies, a holding company whose primary businesses include asset management, mortgages, real estate transactions and real estate logistics, has promoted Chief Investment Officer Andrew Taffet to CEO.
Taffet succeeds company founder Bruce Rose, who will take on the role of chairman of the executive committee. Taffet has been with the Anaheim, California-based company for the past 20 years, joining as a portfolio manager in June 2004. He became chief investment officer 10 years ago.
“This is not a dramatic handoff by any means, but rather a natural next step for our business,” said Rose. “In addition to his duties as Chief Investment Officer, Andrew has been handling the day-to-day operations and oversight of our company for some time. The Carrington Companies will continue to operate as they have for the past 20-plus years. Our effectively self-hedged business strategy positions us for continued success, as we have demonstrated even during the most challenging market cycles.”
“Together with the executive committee, we have achieved great success during the past 20 years,” said Taffet. “I am truly honored to assume the role of chief executive officer and continue to work with such a talented team to build upon our achievements to date. Bruce provided me with an opportunity to start my career with Carrington two decades ago, and it has been a privilege to contribute to the growth of our platform. I am deeply grateful for his visionary leadership and all he has taught us during this time. I look forward to carrying this vision into the future, continuing to lead Carrington’s development and leveraging our collective experience to drive success.”
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