Morguard named Angela Sahi president and COO on Tuesday as CEO Rai Sahi assumed a reduced role.

Angela Sahi will oversee the company’s operations and drive strategic initiatives aimed at enhancing Morguard’s market position and delivering value to its stakeholdersj, Morguard said in a news release.

She moves up from executive vice-president post, in which she was responsible for the firm’s residential, office and industrial real estate segments. Her appointment took effect immediately.

While dropping president duties, Rai Sahi will continue to chair Mississauga, Ont.-based Morguard’s board and serve as CEO.

Angela Sahi has extensive real estate, mergers and acquisitions, governance, and risk experience in both Canada and the U.S. She joined Morguard in 2006 after spending seven years as a consultant in EY’s real estate advisory and business risk services goups.

Morguard owns as manages retail, office, industrial and residential real estate assets valued at $17.9 billion.