Starwood REIT Appoints New Chief Financial Officer and Treasurer

The board of Starwood Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust, has appointed Dave Guiteau to serve as the company’s chief financial officer and treasurer.

Guiteau replaces former CFO and treasurer Chris Lowthert who recently resigned from his positions, and the company said that his resignation was not due to any disagreement with the company, its advisor or any of their affiliates.

Prior to joining Starwood Capital, Guiteau held various financial roles with AIG Global Real Estate, including chief financial officer from July 2012 to March 2019, and previously served as a managing director overseeing the financial accounting and reporting for the firm’s portfolio of private equity real estate funds.

Guiteau was also the former CFO of Hunter Roberts Construction Group, a New York-based general contractor. He started his career at Arthur Andersen LLP where he was an audit manager in the firm’s real estate and hospitality services group in its New York office, focusing on public and private real estate clients.

He holds a bachelor’s degree in public accounting from Hofstra University and is a certified public accountant.

Starwood REIT focuses on acquiring a portfolio of real estate in the United States and Europe, including multifamily, office, hotel, and industrial assets, as well as other property types. Starwood REIT broke escrow in December 2018 after raising approximately $165 million in proceeds for its continuous public offering. The company’s portfolio includes 14 properties, eight select service hotels and six multifamily properties, purchased for $411 million.

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First Capital Real Estate Trust Appoints New Treasurer and COO

First Capital Real Estate Trust, a publicly registered non-traded real estate investment trust, has appointed Manny Foutoulis as treasurer and Richard Klee as chief operating officer.

Foutoulis replaces Suneet Singal, who will continue to serve as the company’s chief executive officer, secretary, and chairman of the board.

Prior to joining First Capital, Foutoulis served as the treasury manager at Paramount Group Inc., and before that, he spent nearly 10 years as the assistant treasury manager at American International Group Inc. (AIG). He holds a bachelor’s degree in finance from The College of Staten Island and an MBA in corporate finance from Adelphi University.

Prior to his role as COO, Klee was the global treasurer at Ness Technologies Inc. from May 2018 to October 2018. He previously served as the director global treasury at Scholastic Corporation and as the assistant treasurer at W.P. Carey Inc. (NYSE: WPC). Klee is a certified treasury professional and holds a bachelor’s degree in accounting from Queens College.

Last month, First Capital Real Estate Trust appointed Jeffrey Zomback as its new chief financial officer, as reported by The DI Wire. Zomback previously headed the treasury department at Paramount Group Inc. He has served as an executive director and treasurer of W. P. Carey and as the director of treasury operations at American International Group, where he worked in various capacities for 20 years.

First Capital Real Estate Trust has not filed its quarterly or year-end financials with the SEC since August 2015.

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Former Cetera and Advisor Group CEO Joins Board of Clark Capital

Clark Capital Management Group, an independent asset management firm, has appointed industry veteran Larry Roth to its board of directors.

Roth is the former CEO of Cetera Financial Group and Advisor Group, two of the largest independent broker-dealer and corporate RIA firms in the country. He is currently the managing partner of RLR Strategic Partners, a recently launched consulting firm affiliated with investment bank Berkshire Capital.

Roth, an attorney and certified public accountant, has served on several boards of privately held and publicly-traded companies and was the former chairman of both the Financial Services Institute and the Insured Retirement Institute.

Clark Capital Management Group provides investment strategies to individual investors, corporations, foundations, and retirement plans. The firm was founded in 1986 and oversees approximately $13.1 billion in assets.

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Larry Roth Launches New Consulting Firm, Partners with Berkshire Global Advisors

Financial services industry veteran Larry Roth has launched RLR Strategic Partners, a growth consultancy focused on the retail wealth management and asset management spaces. In addition, RLR has partnered with investment bank Berkshire Global Advisors to provide mergers and acquisitions advisory solutions for its clients.

According to the company, RLR works in collaboration with the executive leadership teams, boards of directors, and advisory boards of wealth management businesses across the country in setting growth goals, and then developing and implementing strategies to reach those goals. As part of its strategy offerings, the company provides governance to publicly-traded and closely-held firms seeking to build out or enhance their boards of directors.

“The work that we are doing at RLR is ultimately all geared towards helping the wealth management space create significant new value by serving the crucial role it is meant to play in our society,” said Roth. “At its best, the wealth management industry connects Main Street and Wall Street, supports the achievement of long-term financial goals for people across the net worth spectrum, and drives better life outcomes for both the well-to-do, as well as those with more modest means.”

Prior to establishing RLR Strategic Partners, Roth served as CEO of AIG Advisor Group, as well as CEO of Cetera Financial Group, two of the largest independent financial advice firms in the industry.

Roth was at the helm during the pre-planned bankruptcy of Cetera’s former parent company, RCS Capital Corp in 2016. Cetera later reemerged as an independent, privately held organization with no ties to RCAP’s founder and former chairman Nicholas Schorsch.

A CPA and licensed attorney, Roth received his juris doctor from the University of Detroit’s School of Law and a bachelor’s degree from Michigan State University. He also graduated from the owner/president management program at Harvard University’s Graduate School of Business Administration. He holds FINRA Series 7, 24, 63 and 79 registrations.

Roth was recently appointed to the board of New York-based investment boutique Oppenheimer & Co. Inc.

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First Capital Real Estate Trust Appoints Former W. P. Carey Exec as CFO

First Capital Real Estate Trust, a publicly registered non-traded real estate investment trust, has appointed Jeffrey Zomback as its new chief financial officer. The company also named a new independent accounting firm.

Prior to joining the company, Zomback headed the treasury department at Paramount Group Inc. He previously served as an executive director and the treasurer of W. P. Carey Inc. (NYSE: WPC) from 2010 to 2016. Zomback was the director of treasury operations at American International Group (AIG), where he worked in various capacities for 20 years.

Zomback, a certified public accountant, holds a bachelor’s degree in accounting from Binghamton University and a master’s in business administration in corporate finance from Fordham University.

In other company news, First Capital Real Estate Trust has dismissed MaloneBailey LLP as its independent public accounting firm and appointed Turner, Stone and Company as its replacement. First Capital and MaloneBailey agreed that there were no disagreements between the firms resulting in the dismissal.

First Capital Real Estate Trust has not filed its quarterly or year-end financials with the SEC since August 2015.

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