January 04, 2012 08:30 ET
Benjamin H. Griswold, IV Elected Non-Executive Chairman of W. P. Carey & Co. LLC
NEW YORK, NY--(Marketwire - Jan 4, 2012) - Investment firm W.
P. Carey & Co. LLC
(NYSE:
WPC) announced today that Benjamin H. Griswold,
IV has been unanimously elected by the Board of Directors as
Non-Executive Chairman of the Board. Mr. Griswold's
appointment follows the passing of Founder and Chairman, Wm.
Polk Carey, as announced on January 2, 2012.
Mr. Griswold has been a director of the Company since 2006
and served as Lead Director and Chairman of the Compensation
Committee. He has decades of experience in several sectors,
including finance, consumer goods and industrial goods. Mr.
Griswold is Partner and Chairman of Brown Advisory, a
Baltimore-based firm providing asset management and strategic
advisory services in the U.S. and abroad. Prior to joining
Brown Advisory in March
2005, Mr. Griswold had served as Senior Chairman of Deutsche
Bank Securities Inc.
Mr. Griswold began his career at Alex. Brown & Sons in 1967
and became a partner of the firm in 1972. He headed the
company's research department, equity trading, and
equity divisions prior to being elected Vice Chairman of the
Board and Directors in 1984, and Chairman of the Board in
1987. Upon the acquisition of Alex. Brown by Bankers Trust
New York Corporation in 1997, he became Senior Chairman of BT
Alex. Brown.
Mr. Griswold is also a member of the boards of Stanley Black
& Decker, Baltimore Life
Insurance and Flowers Foods. A former director of the New
York Stock Exchange, he is
active in civic affairs in the Baltimore area and heads the
Endowment Board of the Baltimore
Symphony Orchestra. Mr. Griswold is also an Emeritus Trustee
of Johns Hopkins University.
Company Chief Executive Officer Trevor P. Bond stated,
"In Ben we are fortunate to have a Chairman who not only
brings to this role extensive experience and industry-wide
knowledge, but also a thorough background on our business and
our people. Having served as a Director of W. P. Carey since
2006, and Lead Director and Chairman of the Compensation
Committee, he comes into this position with deep knowledge of
our corporate culture and our long-term commitment to our
investors and tenants. On behalf of the Board and myself, I
am pleased to welcome him to this position."
Mr. Griswold said, "Having been on the board for several
years, I have had the great privilege to work with W. P.
Carey's management team. A significant component of
Bill's legacy is the balanced strength of this
organization and the quality of our people at all levels
-- which is consistent with the gold standard he set for
himself and others. The depth and
breadth of the talent within the firm and their dedication to
its core beliefs position us well to continue our success and
maintain the tradition of excellence that has been emblematic
of W. P. Carey throughout its history."
W. P.
Carey & Co. LLC (NYSE: WPC) is an investment
management company that provides long-term sale leaseback and
build to suit financing for companies worldwide and
manages
a global investment portfolio of approximately $11.8 billion.
Publicly traded on the New York Stock Exchange (WPC), W. P.
Carey and its CPA® series of non-traded REITs help companies
and private equity firms unlock capital tied up in real
estate assets. The W. P.
Carey Group's investments are highly diversified, with
approximately 284 long-term corporate tenants spanning 28
industries and 18 countries.
http://www.wpcarey.com
This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause the Company's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the Company, reference is made to the Company's filings with the Securities and Exchange Commission.
Contact Information
COMPANY CONTACT: Cheryl Perry
W. P. Carey & Co. LLC
212-492-8995
Email Contact
PRESS CONTACT: Guy Lawrence Ross & Lawrence
212-308-3333
Email Contact
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