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Ronald W. KaiserCRE
Co-Founder
In memoriam · Oct 1944 to Jan 2026
Ronald W. Kaiser, co-founder of Bailard, Inc., passed away on January 11, 2026. He helped shape the firm’s early identity and played a defining role in how Bailard approaches real estate within diversified investment portfolios.
Ron co-founded the firm in 1969 with two classmates from the Stanford Graduate School of Business, originally naming the company Bailard, Biehl & Kaiser, Inc. He remained closely connected to the firm throughout his career and, following a brief hiatus, returned as Director of Real Estate Research, where his work advanced both internal thinking and client understanding of private real estate as a long-term portfolio component. He also served on the Board of Directors of BB&K Holdings, Inc., the parent of Bailard, Inc., and on the Board of the Bailard Real Estate Fund.
A widely respected researcher and practitioner, Ron authored numerous papers on real estate and portfolio construction and was a frequent presenter at client, industry, and academic conferences. His work appeared in leading publications, including the Journal of Portfolio Management, Institutional Real Estate Letter, PREA Quarterly, the Journal of Real Estate Research, and the Journal of Real Estate Portfolio Management.
Ron received two American Real Estate Society Manuscript Awards. His paper, “The Long Cycle in Real Estate” received the award for Best Paper Presented on Real Estate Investment/Portfolio Management, and “When and Why Real Estate Could Be a Surrogate for Bonds: A Dynamic Asset Allocation View” received the award for Best Research Paper Presented by a Practicing Real Estate Professional.
Ron earned his BS and MBA from Stanford University. He held leadership roles with the National Council of Real Estate Investment Fiduciaries, including serving as Chairman, and was a longtime member of the American Real Estate Society. In recognition of contributions to the field, he was inducted as a Homer Hoyt Fellow and was a member of The Counselors of Real Estate and the Pension Real Estate Association.
Ron is survived by his wife Pam, three children, and four grandchildren.
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The people behind Bailard
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Sonya Mughal, CFAChief Executive Officer
Michael J. Faust, CFAPresident, Wealth Management
Tess GruensteinExecutive Vice President / Head of Portfolio Management, Real Estate
Dave Harrison Smith, CFAExecutive Vice President / Chief Investment Officer
Blaine Townsend, CIMC®, CIMA®Executive Vice President / Director, Sustainable, Responsible and Impact Investing
Kalyan AdavikolanuIT Manager
Osman Akgun, PhD, CFASenior Vice President, Domestic Equities
Kimberly Aquino, CFP®Senior Vice President / Director of Operations, Wealth Management / Investment Counselor
David AbramsonAnalyst
Susan BarrettOffice Assistant
Linda Beck, CFASenior Vice President / Director, Fixed Income
Gary BenmourOperations Associate
Mary Bersot, CFAExecutive Vice President
Donna T. Castillo, FPQP®, CRPC™Senior Client Associate
Ryan Chavez, CFP®, CPWA®Investment Counselor
Ryan Cole, CFP®, CTS™Senior Vice President, Wealth Management
Marian DaniellsVice President, Institutional Client Services & Business Development
Stacy Pearl Dauber, CFP®Senior Vice President, Investment Counselor
Glenn Davis, CFASenior Vice President / Head Trader
Neha DesaiVice President, Real Estate
Diana DessonvilleExecutive Vice President, Director, Institutional Client Services
Annalise Durante, CFP®Vice President, Senior SRII Research Analyst, Investment Counselor
Raj DuttaSenior Data Engineer
Geoff EsmailDirector, Real Estate
Janine FabelReceptionist
Rick Fermin, CFP®, RICP®Senior Vice President / Investment Counselor
Pavita Fleischer, CFASenior Vice President | Chief Compliance Officer
Andrea Mohr GandolfoSenior Vice President / Investment Counselor
Jack GeriClient Associate
Isabel Gonzalez-VelardeSenior Client Associate
Eric GrecoDirector, Investment and Corporate Operations
Clayton HagyPrivate Markets Associate
Madison HardySenior SRII Research Analyst
Jenifer HarveySenior Client Associate
Ciara HatfieldMarketing Associate
Noah Holmes, CFP®Portfolio Associate
Joanne Howard, CFASVP, Investment Counselor and Portfolio Manager
Abbey HsuClient Associate
Xavier S. JeffersonSenior Analyst, Private Markets & Solutions
Matt JohnsonVice President, Trading and Operations
Dave Jones, JD, LLM, CFP®SVP, Director of Estate Strategy
Scott Kidd, CFP®Senior Vice President / Investment Counselor
Michele KloskySenior Client Associate
Alexandra LabaghPortfolio Associate
Bradley Larson, CFP®, CPWA®Senior Vice President / Investment Counselor
Austin Lastinger, CFP®, EAVice President / Investment Counselor
Ben LathropSenior Vice President | Director of Business Development and Client Services, Real Estate
Kit LauOperations Analyst
Irene Liando, CFAVice President, International Equities
Jon Manchester, CFA, CFP®Senior Vice President / Chief Strategist, Wealth Management / Portfolio Manager - Sustainable, Responsible and Impact Investing
Frank Marcoux, CFASenior Vice President / Portfolio Manager - Sustainable, Responsible and Impact Investing
Robin MaschewskiPayroll & Billing Associate
Daniel McKellar, CFASenior Vice President, International Equities
Lena McQuillen, CFP®Vice President, Director of Financial Planning
Reana MeiriSenior Compliance Officer
Yuji MiwaPerformance Analyst
Stephen MorrisSenior Client Associate
Chris MoshySenior Vice President, Domestic Equities
Thomas J. Mudge III, CFASenior Vice President, Director, Equity Research
Destiney NorsouvanhClient Associate
Jun OmiyaReal Estate Analyst
Anna Palmiery, CPASenior Accounting Manager
Romy Pavolotsky, CFP®, CDFA®Senior Vice President / Investment Counselor
James PinkertonExecutive Vice President / Head of Investments, Real Estate
Renuka Raj, SHRM-CP®Human Resources Manager
Suanne Ramar, CFASenior Vice President, Investment Counselor
Shielah RamosFacilities Operations Manager
Erin Randolph, PCM®Senior Vice President, Marketing & Communications
Nicholas Risser, CFP®Portfolio Associate
Stephanie RoncalInvestment Counselor
Mikhail Saliba, CFP®Estate and Financial Planning Associate
Preston SargentStrategic Advisor
Dana M. Scheer, CFA, CFP®Senior Vice President | Investment Counselor
Paul ShinData Analyst
Dipika Shull, CPAChief Accounting Officer, Real Estate
Tom SikoraVice President, Trader
Simon Smundak, CFASenior Vice President, Private Markets & Solutions
Alex SpotswoodSenior Vice President, Real Estate
Debbie TanguaySenior Marketing Program Manager
Les TiméTechnology Support Analyst
Amit Valia, CFASenior Vice President, Financial Data Management
Ryan Vasilik, CFASenior Analyst, Domestic Equities
Leon VigdorchikSenior Vice President, Technology
Jeremy Wager-Smith, CFAFixed Income Analyst
Lily WuSenior Vice President, Finance and Operations
Lizbeth ZaragozaReal Estate Analyst
Thomas E. BailardCo-Founder
Peter M. HillEmeritus
Ronald W. Kaiser, CRECo-Founder
Burnie Sparks, CFAEmeritus
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