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CEO Leaves Major US Commercial Real Estate Lobbying Group


Stephen Renna, CEO of the powerful real estate lobbying group CRE Finance Council, just left the organization, according to one of its spokespeople.

While the spokesperson didn't say why the power player left, a CREFC member said he had been asked to leave, Reuters reports.

The lobbying group likes to consider itself the main voice of the domestic $3.4T commercial real estate industry, with Stephen leading the group since the wake of the financial crisis five years ago.

Stephen battled last year with one of the group’s execs, who favored more regulation of the industry.

In addition, members say tensions were rising due to the revival of ratings shopping, a technique some regulators say helped lead to the financial crisis in the first place. [Reuters]