The Edmond de Rothschild (EdR) Group has appointed François Grandvoinnet to head up Cleaveland, its real estate platform.

Mr Grandvoinet becomes chairman of the 2005-established platform, which manages EUR 6.2 billion for third parties. He replaces Laurent Fermaut and Dominique Bonin, Cleaveland’s founders, who will leave the company at the end of this year.

EdR’s acquisition of 100 percent of the company took place in June 2016.

Mr Grandvoinnet has more than 30 years’ experience in real estate.