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Michael D. Fascitelli

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Michael D. Fascitelli
File:Michael Fascitelli.jpg
Fascitelli in 2013

Michael D. Fascitelli (c. 1957) is a member of the Vornado Realty Trust Board of Trustees, and was formerly president and CEO of the Company before stepping down on February 26, 2013.[1] During Fascitelli’s 16-year tenure at Vornado (four as CEO), the company expanded and made several acquisitions, including buying Merchandise Mart building in Chicago and numerous office buildings surrounding Madison Square Garden in Manhattan.[2] Under Fascitelli, Vornado also developed the Bloomberg L.P. headquarters in Manhattan.[3] Fascitelli was named CEO in 2009.[4] Fascitelli had previously acted as the head of the real estate investment banking business of Goldman, Sachs & Co.[5]

Early years

Fascitelli is a member of the Class of 1978 of the University of Rhode Island where he received his B.S. in Industrial Engineering, Summa Cum Laude. He also received his MBA in 1982 with highest distinctions from the Harvard Graduate School of Business Administration.[6]

Career

After graduating from URI, Fascitelli joined the Bristol-Myers Squibb in 1978 as an engineer and manufacturing supervisor. Subsequent to graduating from Harvard in 1982, Fascitelli joined McKinsey & Company, a management-consulting firm.[6]

In 1985 he joined Goldman, Sachs & Co. in the Real Estate Department.[4] He became partner in 1992 and was head of the real estate investment banking business. He also served on the Investment Committee for the Real Estate Funds. In December 1996 he became President of Vornado Realty Trust. He subsequently became Chief Executive Officer of Vornado in May 2009.[7]

Fascitelli is a Trustee and Director of the Urban Land Institute. He is past Chairman of the Wharton Real Estate Center and still serves on the Executive Committee. He serves on the Board of the Child Mind Institute, The Rockefeller University Board of Trustees and St. Bernard's Board of Trustees. He is an officer and a member of the Executive Board for the National Association of Real Estate Investment Trusts.[8] Fascitelli also serves on the Real Estate Round Table Board of Directors.[9] Additionally, he serves on both the Harvard Business School Board of Overseers and the URI Foundation Board.[10]

In May 2008, he received his Doctor of Laws from the University of Rhode Island.[7]

Charitable work and accolades

Fascitelli was the recipient of the 2012 Child Advocacy Award for his transformative philanthropic contributions to the cause of children's mental health and the establishment of the Child Mind Institute.[11]

From the Greater New York Councils Boy Scouts of America he received the Good Scout Award and the James E. West Fellowship Award in 1997 and he received the Silver Beaver Award in 2003.[12] Fascitelli was one of the recipients of CPE’s Executive of the Year award in November 2012.[13] He was also the recipient of the Best Present Award in January 2013.[14] And in 2008 he received the Business Statesman of the Year award from The Harvard Business School Club of New York.[15]

Personal life

Fascitelli is married to Elizabeth Fascitelli (née Cogan), a partner at Goldman Sachs, and has three sons Nick, 22, Matthew, 20, and Jack, 17.[16]

References

  1. ^ "Michael D. Fascitelli to Step Down as Vornado's Chief Executive Officer;Steven Roth, the Company's Chairman, Appointed as Chief Executive Officer" (Press release). Vornado Realty Trust. February 27, 2013.
  2. ^ "Merchandise Mart, Chicago". Emporis. Retrieved 2012-07-19.
  3. ^ "Top Projects Completed 2003-2004". McGraw Hill Construction. July 18, 2011.
  4. ^ a b "Michael D. Fascitelli Profile". Forbes. Retrieved 2012-06-21.
  5. ^ Eliot Brown (February 27, 2013). "Vornado CEO Fascitelli Stepping Down". Wall Street Journal.
  6. ^ a b "Michael D. Fascitelli Executive Profile". Forbes.com. Bloomberg Businessweek. Retrieved 2013-01-21.
  7. ^ a b "Executive Management". Vornado Realty Trust. Retrieved 2013-02-19.
  8. ^ "NARIET NAMES 2012 LEADERSHIP TEAM" (PDF) (Press release). REIT. November 7, 2011.
  9. ^ "FY2012 Board of Directors". The Real Estate Roundtable. Retrieved 2013-02-20.
  10. ^ "Naming Request - Anna Fascitelli Fitness and Wellness Center" (PDF) (Press release). University of Rhode Island. August 2, 2011.
  11. ^ "Child Mind Institute Raises Over $6.4 million at Child Advocacy Award Dinner" (Press release). Child Mind Institute. December 14, 2012.
  12. ^ "Executive Management". SNL Financial.
  13. ^ "Gray Tops Executive of the Year Awards — Again". Corporate Property Executive. November 28, 2012.
  14. ^ Lois Weiss (January 2, 2013). "From Barclays Center to Sandy, a year of extremes". New York Post.
  15. ^ "HBSCNY Annual Event: 2008 Leadership Dinner". HBSCNY.org.
  16. ^ Douglas A. McIntyre. "America's 10 highest-paid CEOs (and are they worth it?)". NBCNews.com.
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