The Amherst Group, an Austin-based real estate investment, development and operating platform, has promoted Chris Avallone to chief financial officer (CFO), effective May 1.
Avallone will retain his current position as head of merchant banking, with responsibilities overseeing debt capital markets, equity capital raising, corporate finance and financial planning and analysis. He succeeds current CFO Dallas Lucas, who is retiring and will transition to an advisory role as vice chairman within Amherst.
Avallone has been with Amherst for nearly seven years and previously held capital markets roles at Goldman Sachs and UBS Investment Bank.
“As we transition to this next step in our long-term growth and succession plan, we are confident that Chris is the right person to help maintain Amherst’s place as a leading U.S. residential real estate investor,” said Sean Dobson, chairman, CEO and chief investment officer at Amherst. “We are grateful to Dallas for his committed service to Amherst for the past five years and look forward to leveraging his invaluable knowledge during and after this transition.”
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