DALLAS, April 21, 2015 /PRNewswire/ -- Behringer announced today that Robert (Bob) Aisner will transition from his position as chief executive officer and president of Behringer Harvard Holdings, LLC (Behringer) to the role of chairman, effective at the end of the first quarter, 2016.
As part of the company's succession plan, Michael D. Cohen, currently executive vice president, will immediately assume Mr. Aisner's role as president of Behringer, and will add CEO to his title in 2016. As CEO and president, Mr. Cohen will assume responsibilities for the holding company's oversight of the evolving platform of specialized investment products.
As chairman, Mr. Aisner will retain his positions on the boards of five public investment programs, while transitioning day-to-day operations of Behringer over the coming year. Mr. Aisner will continue to focus on long-term growth strategies in Behringer's investment management business, while remaining involved in the company's current and future real estate operations, along with newly appointed executive vice president of fund/asset management, Thomas Kennedy.
The decision to transition in early 2016 is the continuation of an existing succession plan started when Mr. Aisner assumed the role of CEO from Robert M. Behringer in 2011. Mr. Behringer transitioned to chairman emeritus in 2013. As part of the broader succession plan at that time, R. Franklin (Frank) Muller, Jr., was also elected CEO of Behringer Securities, LP. Mr. Muller joined the company in 2011 and has been a driving force in Behringer's strategic evolution to a multi-strategy investment firm. As CEO and president of Behringer Securities, Mr. Muller is responsible for the platform that provides financial advisors and investors with access to multiple managers and their suite of specialized investment products.
"The company is truly structured for ongoing success," said Mr. Aisner. "As we continue to evolve our capabilities as a specialized investment distributor and manager, while maintaining our real estate capabilities, we will leverage the expertise of both Michael and Frank along with our seasoned team to continue our growth."
"This transition will be completely seamless and without disruption to our partners, clients and their investors," said Cohen. "Bob's leadership has had significant impact on Behringer during his tenure as CEO. We are grateful for his contributions and the foundation he has built alongside Robert Behringer."
Behringer creates, manages and distributes specialized investments through a multi-manager approach that presents unique options for allocating capital, managing risk and diversifying assets. Investments sponsored and managed by the Behringer group of companies have invested more than $11 billion in assets. For more information, call toll-free 866.655.3600 or visit behringerinvestments.com.