07/12/2017 22:20:35

CNL FINANCIAL GROUP ANNOUNCES NEW LEADERSHIP STRUCTURE AS IT PREPARES FOR ITS 45TH ANNIVERSARY

Orlando, Fla., Dec. 07, 2017 (GLOBE NEWSWIRE) -- CNL Financial Group has announced that Stephen H. Mauldin and Chirag Bhavsar have been named as co-CEOs of the company. Mauldin will oversee all real estate investments, legal, and other corporate functions. Bhavsar will oversee all of CNL’s private capital investments, financial management and other corporate services. Mauldin and Bhavsar will have joint responsibility for CNL’s sales functions and both will report directly to CNL’s Founder and Executive Chairman, James M. Seneff. Seneff will continue to oversee the company’s long-term strategy and vision as Mauldin and Bhavsar manage the company’s day-to-day operations.

Mauldin joined CNL in 2011 as president and chief operating officer of CNL Lifestyle Properties and CNL Healthcare Properties. Currently, he is group president and executive leader for all CNL real estate focused funds. Mauldin received his MBA from Northwestern University’s Kellogg Graduate School of Management, holds a bachelor’s degree in finance from the University of Tampa and has more than 20 years of real estate investment experience. 

Bhavsar has spent the last 16 years working with CNL-affiliated companies, and has a strong banking and financial services background. He served as chief financial officer for three different banks, including CNL Bank, and brings a deep understanding of debt and capital markets to his new role. He also served as chief financial officer and chief operating officer of Corporate Capital Trust, a CNL-sponsored business development company that was just listed on the New York Stock Exchange. He holds master’s and bachelor’s degrees in accounting from the University of Florida.

These announcements follow the resignations of two CNL executives who are leaving to pursue business and personal interests. Thomas K. Sittema is stepping down from his role as CEO for CNL Financial Group. Sittema joined CNL in 2009 following a successful 27-year banking career with Bank of America Merrill Lynch and Bank of America. Tracy G. Schmidt, CNL’s enterprise chief financial officer and group president for alternative investments also resigned from the company. Schmidt joined CNL in 2004 as the company’s chief financial officer after spending 24 years working with Federal Express. The leadership changes are effective at year-end, but both Sittema and Schmidt will be available to consult with CNL through the first quarter of 2018.

“I deeply appreciate the contributions made by Tom and Tracy to our company’s success, and I look forward to working closely with Steve and Chirag as we prepare for the next cycle of opportunity to benefit our investors,” said Seneff.

“Since 1973, CNL has been focused on the democratization of investing, which allows individuals to invest in assets typically only available to institutional investors,” said Seneff. “This philosophy has remained at the core of who we are through uncertain cycles in the industry, which has allowed us to become one of the few companies to create six companies that have grown to over $1 billion in assets. As we enter our 45th year, we see new opportunities emerging to provide private capital to companies while still growing our real estate platform.”

About CNL Financial Group

CNL Financial Group (CNL) is a private investment management firm providing real estate and alternative investments. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $34 billion in assets. CNL is headquartered in Orlando, Florida. For more information, visit cnl.com.

###

Colleen Johnson

Vice President, Communications

CNL Financial Group

407-650-1223

Primary Logo

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
21 Apr
OMXC25
Som tidligere påvist kan bulls køre hen over hvilken som helt bear. Hvis de altså vil. Det kræver at..
30
19 Apr
 
Et opgør med Finanstilsynet er tvingende nødvendigt, hvis tilliden til markedet ikke skal lægges øde..
28
18 Apr
 
LÆS NU FOR HELVEDE NOGEN AF DE 38000 indlæg som siger at børsen er nede!   Det er kraftstejleme da u..
21
20 Apr
VWS
Vestas har en ordrerbeholdning større end de nogensinde har haft, og de sendte en næsten færdigjort ..
20
19 Apr
BAVA
      Vedr. shortsqeeze mm. og den ekstreme kursmanipulation der dagligt foregår på Nasdaq Kbhvn. T..
19
21 Apr
VELO
Jeg har i torsdags købt Veloxis igen efter en længere pause. For efterhånden en del år siden stod de..
16
20 Apr
VWS
hvornår kommer analysen?
16
18 Apr
 
Det er en katastrofe ! Hvis det fortsætter ret meget længere er vi allesammen nødt til at gå ud og l..
16
17 Apr
LAUR
An aktie man aldrig skal eje. Ejerne trækker store summer ud, at en virksomhed der kæmper for overle..
14
21 Apr
OMXC25
MarkusK - Godt at se et indlæg som er et ægte debat indlæg. Konkret problem at bringe til dsikussion..
13

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Sitting Down with Canadian Millennial Entrepreneur, Logan McLellan, to Discuss the Importance of Using Social Media in Modern Day Business
2
Aricent Now Hiring to Staff New VLSI Engineering Center in Penang, Malaysia
3
Gratomic and Perpetuus Carbon Technologies Limited Enter Into an Agreement for the Exclusive Development and Marketing of Material Enhancing Graphenes Derived From Gratomic Aukam Graphite
4
Maurel & Prom - Q1 2018 sales: $128 million
5
Larson Electronics LLC Releases Red Forklift Strobing Warning Light

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2018   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
23 April 2018 20:34:34
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20180423.5 - EUROWEB3 - 2018-04-23 21:34:34 - 2018-04-23 20:34:34 - 1000 - Website: OKAY