Related Companies executive chairman Stephen M. Ross this week announced that Jeff T. Blau has been named chief executive officer.
Bruce A. Beal, Jr. was also named president of the company and Kenneth P. Wong was named chief operating officer and director of International Development of Related Companies. All four men will form the company’s executive committee.
“Jeff and Bruce have been my partners for over a decade,ˮ said Ross. “They are exceptional businessmen and great leaders with extraordinary abilities, and under our collective stewardship we have executed on a strategic growth plan that has expanded our global reach and created new business platforms that further strengthen our industry leadership position.
“Related’s vertical integration, talented team of executives and employees and access to capital offers nearly unlimited potential for growth and with the strength of this management team, we will be able to further optimize our competitive capabilities, continue to grow the platform and expeditiously capitalize on new opportunities.”
The last decade has been a time of remarkable growth for Related. The company completed Time Warner Center and numerous iconic buildings, was awarded the massive Hudson Yards development, established new levels of customer service aligned itself with an elite group of national and international investors raising $1.4 billion in corporate equity and debt investments, spearheaded a fund management platform raising over $1.5 billion in third party capital, created an advisory services business, expanded its development business in Abu Dhabi, Riyadh and Brazil, grew its development pipeline in New York, Boston, California, Chicago, Colorado and South Florida, and acquired Equinox Fitness Clubs and a partnership interest in Union Square Events.
As executive chairman, Ross will continue to be responsible for global business strategy and development and maintain his focus on the execution of the 26-acre Hudson Yards development.
Blau will be responsible for the strategic direction of the company, overall management of the firm, the pursuit of new development opportunities and corporate acquisitions and financing activities across all business platforms.
Beal will oversee the day-to-day development process for projects across all assets classes throughout the country, asset management, our affordable housing initiatives, and continue to play a key role in managing issues that affect our industry.
Wong will be responsible for overseeing the day-to-day administrative, corporate and business functions, and the company’s national and international expansion activities.
Related currently has a multi-billion dollar pipeline of projects under development and in construction including, the 13 million square foot Hudson Yards development, 30th Street and 10th Ave, East 92 Street and Third Avenue, Gateway Center Phase 2 in East New York, Hunter’s Point South, One Madison Park, 225 Rector Place and Willets Point in New York City, 111 West Wacker Drive and 500 Lake Shore Drive in Chicago, 100 Arlington in Boston, The Village at Santa Monica, a new rental development at Grand Avenue in Los Angeles, a convention hotel in West Palm Beach, Sowwah Square in Abu Dhabi and a large scale residential development in Riyadh.