Colony Capital announced Tuesday that it is relocating its corporate headquarters from Los Angeles, California to Boca Raton, Florida, effective as of January 1, 2021.
Digital Colony, the company’s digital infrastructure investment management business has been based in Boca Raton for over a decade.
”The transition is consistent with the company’s strategic realignment to an exclusive focus on digital infrastructure, which is now greater than 50% complete,” said the compnay in a statement. ”Select corporate personnel and activities will transition to Florida, while the Company maintains its Los Angeles office to support its investment and corporate operations.”
Colony’s president and CEO, Marc Ganzi, and executive vice president and CFO, Jacky Wu, are already based out of Boca Raton.
“We are excited to strengthen our presence in Florida and make Boca Raton our official global headquarters,” said Marc Ganzi. “The move reflects our business transformation and centers the business around our core digital infrastructure platform. Making this move improves efficiency, collaboration and cost-competitiveness, while providing an exceptional work environment for our employees. We will continue to have a meaningful presence in Los Angeles, with many key executives and staff based there.”
In addition, Colony announced the appointment of select corporate officers to new roles as part of its ongoing digital transformation.
The board of directors appointed Sonia Kim as the company’s chief accounting officer, effective January 1, 2021. Ms. Kim has been with Colony since 2008 and prior to this appointment served as managing director, finance & accounting. Neale Redington has been appointed chief financial officer of the company’s non-digital businesses and Brian Lee has been promoted to corporate treasurer.
“I am very pleased that these three accomplished executives have agreed to assume new roles and responsibilities as part of our digital transformation,” said Jacky Wu. “Sonia has been with us for over a decade and the appointment is well earned. Neale’s new role will bring greater focus to the crucial task of managing our legacy businesses and Brian will add treasury oversight to his existing role as Head of Corporate Finance.”