Digital Realty names first company president

Digital Realty names first company president

Bill Stein DR NEW.jpg

Digital Realty has added to the remit of its long-standing CFO, by appointing him to the newly created position of company president.

Andrew P. Power has been CFO since 2015 when he moved to Digital Realty following a successful career in banking. He was MD of real estate, gaming and lodging investment banking for Bank of America Merrill Lynch, where he was responsible for relationships with more than 40 public and private companies, including Digital Realty. Power held similar roles at Citigroup.

During his career, he has managed the execution of public and private capital raises in excess of $30 billion, including the largest REIT IPO to date, and more than $19 billion of merger and acquisitions transactions.

He was part of the lead underwriting team that advised Digital Realty on its 2004 IPO and served as a lead manager on nearly every subsequent public capital raise.

In that position he was responsible for the company’s financial functions, including financial reporting, capital markets, tax, financial planning and analysis, as well as global asset management operations.

In addition to his new responsibilities Power will continue to head the company's financial direction and will be supported by Erich J. Sanchack who has been named chief operating officer.

"I look forward to working more closely with Andy in the newly created position of president, in which he will play an even greater role in our operations and strategic direction," said Digital Realty CEO A. William Stein (pictured).  "I'm incredibly proud of Andy, Erich and the broader Digital Realty team, and I am confident these leadership changes will widen our competitive moat and set the stage for the next phase of our growth."

In recent months Digital Realty has sold 11 data centres in Europe, unveiled its plans for the Indian market and posted a 10% increase in revenues in Q2.

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