Situs Europe CEO Bearman leaves after seven months

By Paul Norman - Tuesday, September 12, 2017 12:22

Situs, the provider of strategic business solutions for the finance and commercial real estate industries, has announced the departure of Christian Bearman, the CEO of its European business, after seven months at the helm.

Situs said Bearman is leaving to "seek opportunities outside the firm". 

It added: "Situs continues to build on the long-term strategy that has enabled the firm to become a leading service provider and has driven growth along all Situs business lines, globally.

"The firm's business in Europe is an area of expansion, as highlighted by the recent acquisition of Hatfield Phillips, through which Situs became the leading loan servicing and NPL loan management firm in Europe, and by the addition of its Valuation Management and Advisory capabilities in the UK and on the Continent."

"Our strategy, commitment and focus in Europe remain unchanged, providing best-in-class service to clients across the region," said Situs CEO Steve Powel. "We are excited about the prospects of further business development in Europe, and the synergies for European clients with our capabilities in the US, and vice versa."

Situs hired Christian Bearman as CEO of Situs Europe, effective 1 February 2017.

Situs is owned by funds managed by Stone Point Capital and the company’s senior management team. Stone Point is a private equity firm based in Greenwich, Connecticut and has raised $13bn in aggregate capital commitments.

Based in London, Bearman was responsible for the development and continuing operation of Situs' business in Europe which has €40bn in assets under management, as well as playing a role in the expansion of Situs global presence. Bearman reported to Nick Rudenstine, president of Situs Group.

Prior to joining Situs, he was most recently the Head of Corporate Development & Operations at Valad Europe, a business in which he played a lead role in the executive management team that completed a management buyout of the business with the investment backing of The Blackstone Group in 2011, and grew the business before its sale to Cromwell, a A$2bn Australian REIT.

He has also worked at Goldman Sachs in the Investment Banking Division and at Lloyd's Banking Group, where he restructured its €20bn Real Estate Joint Ventures business post the acquisition of HBOS.

pnorman@costar.co.uk

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