Another company is making its home in South Florida. Global investment firm Colony Capital announced this week that its corporate headquarters has moved from Los Angles to Boca Raton as of Jan. 1.
To streamline Colony’s corporate structure and realize G&A savings, select corporate personnel and activities will transition to Florida, while Colony maintains its Los Angeles office to support its investment and corporate operations. The move is also part of a strategic alignment to focus exclusively on its digital investment management business as its digital infrastructure platform, Digital Colony, has been based in Boca Raton for more than a decade. The company says the alignment is now more than 50% complete.
The company manages a $47 billion portfolio of real assets on behalf of its shareholders and limited partners, including over $23 billion in digital real estate investments through Digital Colony.
“We are excited to strengthen our presence in Florida and make Boca Raton our official global headquarters,” said president and CEO Marc Ganzi (pictured above), who is based in Boca Raton along with CFO Jacky Wu. “The move reflects our business transformation and centers the business around our core digital infrastructure platform. Making this move improves efficiency, collaboration and cost-competitiveness, while providing an exceptional work environment for our employees. We will continue to have a meaningful presence in Los Angeles, with many key executives and staff based there.”
The announcement of the headquarters move follows the company’s personnel changes made late last year as part of its digital transformation. Its board of directors appointed Sonia Kim as chief accounting officer, effective Jan. 1. She was previously managing director of finance and accounting. Neale Redington was appointed chief financial officer of the company’s non-digital businesses and Brian Lee was promoted to corporate treasurer.
“I am very pleased that these three accomplished executives have agreed to assume new roles and responsibilities as part of our digital transformation,” said Jacky Wu. “Sonia has been with us for over a decade and the appointment is well earned. Neale’s new role will bring greater focus to the crucial task of managing our legacy businesses and Brian will add treasury oversight to his existing role as Head of Corporate Finance.”
Colony also has offices in New York and London. The Boca Raton headquarters are located at 750 Park of Commerce Drive, Suite 210.