Grosvenor promotes two SF executives to fill job of retiring CIO

Two San Francisco-based executives will share the duties of longtime Grosvenor North America Chief Investment Officer Michael Beattie when he retires at the end of the year, according to U.K.-based property developer.

His role will be split between Angela Biggs and Mark Purdy, who will receive promotions to managing director positions. 

Biggs was previously the senior vice president of investment, a role she has held since December 2021. In her new position of managing director of investments, she will lead the company’s acquisitions and dispositions. She has worked at Grosvenor since 2019 and before that she worked for Sares Regis Group Northern California and Farallon Capital Management, according to her LinkedIn profile. 

While Biggs has spent her entire career in the Bay Area, Purdy comes from Calgary and worked in Grosvenor’s offices there from 2008 to 2016, following a seven-year stint as an associate at CBRE, also in Calgary. Since 2016, he has worked for the property group in the Bay Area, also as a senior vice president of investment in the San Francisco office. In that role, he oversees a $700 million portfolio of residential, office and retail properties in California, according to his LinkedIn profile.

In his new position as managing director of asset management, Purdy will handle all asset management activities across the North American portfolio, including the firm’s efforts to reach its carbon reduction goals. 

Beattie, who is based out of Grosvenor’s Vancouver office, has spent more than 20 years with the company and has held the CIO title since 2011. Steve O’Connell, CEO of Grosvenor’s North American urban property business, called him a “foundational member of our executive team” and said the company’s portfolio had almost doubled during his time in the role. 

The investment team’s assets under management now represent Can$3.7 billion and has generated Can$930 million in cash since 2010, according to the release.