Mitsui Fudosan America, the U.S. arm of Japan’s largest development firm, has named Morgan Stanley exec John Westerfield as the new CEO.
Westerfield will start his new job at Mitsui Fudosan — which owns a 92 percent stake at 55 Hudson Yards where it has partnered with Related Companies and Oxford Properties Group — on April 1, the New York Observer reported. Westerfield previously served as a managing director at Morgan Stanley.
Yukio Yoshida, who has been in the position for the past four years, preceded Westerfield.
“I am delighted to join Mitsui Fudosan America, one of the most innovative real estate firms in the world,” Westerfield told the Observer. “I look forward to continuing the expansion of the company in the U.S. market.”
The company is separating the president and the CEO titles to “address the continued growth of their portfolio in the U.S.,” according to a statement cited by the publication. Kaoru Yamaoka will serve as the company’s president. [NYO] — Claire Moses