Forestry real estate investment trust (REIT) Rayonier, has appointed Mark McHugh as chief financial officer to replace H Edwin Kiker who has taken the newly-created position of chief accounting officer.
McHugh is a timber investment veteran who advised on the first-ever timber REIT IPO, CatchMark Timber Trust, in 2013, according to a press release.
McHugh joins Rayonier from Raymond James, the US financial services firm, where he was managing director of the firm’s real estate investment banking group and responsible for its timberland and agriculture sector coverage.
He advised Rayonier while at Raymond James on the spin-off of its performance fibres business, according to a press release. He also worked on Rayonier’s conversion from a corporation to a REIT in 2003.
Before Raymond James, McHugh worked at Credit Suisse as director in the paper and forest products group.
“Mark has been a valued advisor to Rayonier’s senior management team in the months since the spin-off of the Performance Fibers business and we are pleased to welcome him to this new role,” said David Nunes, Rayonier’s president and chief executive in a statement. “Mark’s strategic, financial and industry expertise served us well during our recent internal review and development of our realigned strategy. We are confident that his continued insight and guidance will further support our commitment to transparency and accountability, and that he will be an excellent addition to the senior team leading Rayonier going forward.”