Associated Asset Management (AAM), a leading provider of community association management and accounting services across the United States, has announced a major leadership transition. Elaine Anghel will assume the role of Chief Operating Officer on September 26, 2024, succeeding the retiring Ercell Sherman. This change comes as AAM continues to solidify its position as an industry leader in community management, with the transition designed to build upon the company's success and drive further growth and innovation in the sector.
Ercell Sherman, the outgoing COO, has been instrumental in shaping AAM's strategic direction, overseeing administrative services and community portfolio operations. His focus on operational excellence and leadership development has left an indelible mark on the organization. To ensure a smooth transition, Sherman will continue in a supporting executive leadership role until September 2027. Elaine Anghel brings over 30 years of leadership experience to her new role as COO. Previously serving as AAM's Senior Vice President of On-Site Community Management, Anghel has a proven track record of driving operational efficiency and guiding strategic initiatives for AAM's largest client partnerships nationwide.
Joel Kramer, CEO of AAM, expressed confidence in the leadership change, stating that Sherman has been a cornerstone of AAM's success and that Anghel's vision and commitment to excellence align with company goals. The leadership transition at AAM is significant for the community association management industry. As a company that has been at the forefront of the sector since its founding in 1990, AAM's strategic moves are often indicative of broader industry trends. The appointment of Anghel, with her extensive experience and forward-thinking approach, suggests a continued focus on innovation and operational excellence in the field.
AAM's comprehensive approach to community management, which includes services such as association management, accounting, compliance, developer services, and customer care, has positioned it as a leader in the industry. The company specializes in managing a diverse range of communities, including master-planned, single-family, condominium, active adult, urban high-rise, and mid-rise communities. As the community association management sector continues to evolve, AAM's leadership transition underscores the importance of combining experienced leadership with fresh perspectives. This balance is crucial for companies looking to navigate the changing landscape of community management, which increasingly involves technological integration, enhanced customer service, and adaptable management strategies.
The transition period, during which Sherman and Anghel will work closely together, is expected to last several months. This collaborative approach aims to ensure continuity in AAM's operations and strategic direction while setting the stage for future innovations under Anghel's leadership. For community associations and property owners across the United States, this leadership change at one of the industry's leading companies could signal potential improvements in management practices, technological adoptions, and service delivery. As AAM enters this new chapter, stakeholders in the community association management field will be watching closely to see how this transition influences industry standards and practices. More information about AAM and its services can be found at https://www.associatedasset.com.
