Nathalie Palladitcheff will step down as president and CEO of Ivanhoé Cambridge as the company merges with its parent, the Caisse de dépôt et placement du Québec.

CDPQ announced Wednesday that it is integrating Ivanhoé Cambridge and Otéra Capital in a move designed to save $100 million, and Palladitcheff has decided to leave her post.

The integration has begun and will conclude within 18 to 24 months. A new leader of the business should be appointed before the transition is complete, said CDPQ.

“My transformation mandate will conclude at the end of the transition period in which I will be fully engaged,” said Palladitcheff in a news release.

Palladitcheff has served as Ivanhoé Cambridge’s top executive since 2019. She also sits on CDPQ’s executive committee, which steers the pension fund’s investments and operations. She joined the company as CFO in 2015 after holding executive and management positions with France-based entities.

Ivanhoé Cambridge and Otéra Capital’s investment teams will become CDPQ investment groups, starting April 29. The teams will continue to conduct business under the Ivanhoé Cambridge and Otéra Capital brands in the usual fashion.

Ivanhoé Cambridge ranks among Canada’s largest commercial real estate developers and and investors. CDPQ is one of the world’s largest institutional investors, holding $424 billion in assets under management.

Otéra Capital is a global institutional investor that specializes in providing commercial real estate financing. President and CEO Rana Ghorayeb will continue to oversee the investment group and sit on CDPQ’s executive committee.

As part of the integration, CDPQ will acquire all of the stakes held by Ivanhoé Cambridge and Otéra minority shareholders.

Palladitcheff was selected as one of Connect’s inaugural Canadian Women in Real Estate Award winners.