REAL ESTATE

Murphy is named as president of Phillips Edison

BY Al Urbanski

Former investment banker Devin Murphy will fill the vacant post of president of Phillips Edison & Company and assist CEO Jeff Edison in directing growth strategy at the Cincinnati-based company.

Currently PECO’s CFO, Murphy will assume his new duties in August. Replacing him as CFO will be current senior VP of finance John Caulfield.

“Devin and John are dynamic, highly capable leaders who have added tremendous value to the organization,” Edison stated in a press release announcing the executive moves.

“These changes have been carefully planned and are designed to maximize each individual’s skillset and to create new opportunities to advance our strategic initiatives, including our commitment to the growth of our investment management business,” Edison added.

Prior to joining PECO in 2013, Murphy was vice chairman of investment banking at Morgan Stanley. Previously, he directed Deutsche Bank Securities’ global real estate investment banking operations.

Caulfield was previously treasurer of the data center REIT CyrusOne a, where he played a key role in the company’s successful IPO. He also spent seven years in finance and accounting at Cincinnati Bell.

Phillips Edison is one of the largest owner-operators of grocery-anchored shopping centers in the United States, with more than 300 properties nationwide.

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