BEVERLY HILLS, Calif. – September 14, 2011 – The Board of Directors of Teles Properties has selected Sharran Srivatsaa as the firm’s new Chief Operating Officer. Srivatsaa will focus on the firm’s core offerings that consist of technology, marketing, and integrated operations. Additionally, he will be responsible for Teles’ corporate finance strategy and is charged with building the firm’s proprietary research and analytics platform.

Srivatsaa joins Teles after spending several years at Credit Suisse and Goldman Sachs, where he focused on working with management teams of fast-growing businesses across the country on strategic planning and corporate finance. In addition to his Wall Street experience, Sharran brings a deep technology background from his time working with founding teams of cutting-edge companies in Silicon Valley such as Lightera (acquired by telecom giant CIENA) and international mobile-payment powerhouse, Obopay.

“I have worked with Sharran on business transactions over the last 10 years and I am excited to have him join our leadership team,” said Peter Loewy, Chairman and CEO of Teles. “He brings a unique set of skills that is hard to find in the marketplace: a core technology background combined with stellar Wall Street experience topped off with international hospitality training at Four Seasons and Ritz-Carlton.”

“Sharran was the unanimous choice for our COO position,” said Peter Hernandez, President of Teles. “Sharran’s diversified experience combined with his energy and passion for growing companies, makes him an ideal candidate to join our leadership team in this ever-changing and challenging real estate services environment.”

Mr. Srivatsaa competed on the professional tennis tour and was Academic All-American at Luther College, where he earned a Bachelors degree in Computer Science and Math. He also received his MBA with Honors from Vanderbilt University and currently serves on the National Board of Directors for the Vanderbilt University Alumni Board.

Mr. Srivatsaa and his wife, Neeti, are excited about relocating the family to southern California and look forward to living close to the Pacific Ocean again.