Associated Asset Management (AAM), a leading provider of community association management and accounting services across the United States, has announced a major leadership transition. Effective September 26, 2024, Elaine Anghel will assume the role of Chief Operating Officer (COO), succeeding Ercell Sherman, who is preparing for retirement after years of distinguished service.
This leadership change comes at a crucial time for AAM as it seeks to build upon its position as an industry leader. Ercell Sherman, who played a pivotal role in shaping AAM's strategic direction and overseeing administrative services and community portfolio operations, will continue to provide expert oversight in a supporting executive leadership role until September 2027, ensuring a smooth transition.
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 demonstrated expertise in operational management and a forward-thinking approach. Her appointment is expected to drive AAM towards greater success and innovation in the community association management sector.
Joel Kramer, CEO of AAM, expressed confidence in Anghel's ability to lead the company into its next chapter of growth. "Her vision and commitment to excellence align with our goals, and I am confident that she will lead AAM to continued accomplishments and success," Kramer stated.
This transition is significant for the community association management industry, as AAM is a major player with a 34-year history of providing professional services to master-planned, single-family, condominium, active adult, and urban high-rise communities. The change in leadership could potentially influence industry trends and practices, especially in areas of operational efficiency and strategic management of large-scale community partnerships.
As the community association management sector continues to evolve, AAM's leadership transition may signal a broader shift towards innovative practices and fresh perspectives in the industry. Stakeholders, including property developers, homeowners associations, and industry partners, will likely be watching closely to see how this change impacts AAM's services and market position in the coming years.
