Roger Orf is to become CEO of Citigroup Property Investors following the resignation of Joe Azrack.

Orf, who will be promoted from his role as managing director of European real estate, takes the reins at the end of the month.

Azrack leaves the firm to ‘pursue an entrepreneurial career opportunity’.

Orf will take Azrack’s place on all management and investment committees in addition to retaining his European responsibilities.

He will continue to be based in London.