(Bloomberg) -- Starwood Capital Group named Jonathan Pollack as president, hiring the property executive away from Blackstone Inc., where he has served as global head of the firm’s real estate credit business.

Pollack, previously head of commercial real estate at Deutsche Bank AG, will join Starwood at the beginning of 2025. 

“He is a proven manager, and shares my vision that talent thrives in a fun and rewarding workplace,” Starwood Chairman Barry Sternlicht said in a statement. “I could not be more excited to start this next leg of our journey with him as part of our already accomplished leadership team.”

Jeffrey Dishner, Starwood’s current president, will become vice chairman after Pollack joins the firm. 

At Blackstone, Pollack oversaw a credit business with $84 billion in assets under management, invested across commercial real estate loans, residential mortgages and other instruments.

Blackstone said the firm won’t replace Pollack’s role. Tim Johnson, global head of Blackstone Real Estate Debt Strategies, will continue in that role, supported by Katie Keenan, Mike Wiebolt and other executives.

(Updates with Blackstone executives in final paragraph.)

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