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Paramount Group chief investment officer to resign

Daniel Lauer is stepping down as Paramount Group Inc.'s executive vice president and chief investment officer and will be replaced by the company's senior vice president of acquisitions and strategic relationships, David Zobel, who will become executive vice president and head of acquisitions.

The office real estate investment trust said discussions about Lauer's potential resignation had been ongoing for "several months" and noted that he is leaving the company to spend more time with his family and pursue other career opportunities.

The changes are effective June 26.