The Draper and Kramer board of directors has appointed chief operating officer and general counsel Todd Bancroft as the firm’s next president and chief executive officer. Bancroft, who has been serving as interim president and CEO of the real estate services firm for the last three months, succeeds Midwest Real Estate News hall of famer Forrest D. Bailey, who stepped down as president and CEO after 20 years but will stay on as vice chair and CEO emeritus.
“Draper and Kramer has a legacy of impactful, visionary leaders who have made this company what it is today, beginning with its founders 125 years ago, and Todd very much carries on that tradition,” said Stephen P. Miller, board chairman for Draper and Kramer, a fifth-generation family-owned company. “As the board searched for the right candidate to bridge the company’s 125-year history with its next chapter, we unanimously identified Todd as the right individual to guide the firm. He is a talented and trusted leader, with a deep understanding and appreciation for the company’s heritage as a family-owned business, as well as the ability to plan for the future and capitalize on new opportunities that align with Draper and Kramer’s broader investment strategy.”
Bancroft joined Draper and Kramer in 2012 as chief administrative officer, senior vice president and general counsel responsible for mortgage and cash management operations. In 2014, he was promoted to COO and general counsel, overseeing operations across all four of Draper and Kramer’s divisions including acquisitions and development, commercial finance and residential management as well as the firm’s residential mortgage services group, Draper and Kramer Mortgage Corp.
“I am honored to be appointed as Draper and Kramer’s next leader and thank the board for its confidence and trust in me,” said Bancroft. “It is especially meaningful to be entrusted with this role as we mark Draper and Kramer’s 125th anniversary later this month. As we celebrate that milestone, I’m eager to work alongside our team to identify ways we can build on Draper and Kramer’s legacy—one that continues to differentiate us within the broader commercial real estate landscape.”
Previously, Bancroft was a founding partner with Bancroft, Richman & Goldberg LLC, a Chicago-area law firm focused on real estate and commercial transactions. Bancroft has a B.S. in accounting from the University of Illinois at Champaign-Urbana and J.D. from the University of Florida. He is a licensed real estate managing broker in the state of Illinois and a licensed real estate broker in the state of Michigan.