Santa Monica investment firm Colony Capital promoted two executives on Tuesday to lead its European investment strategy.

Jean-Romain Lhomme and Nadra Moussalem will replace Sebastien Bazin, who previously led Colony’s European investment arm. He was named chief executive of French hotel group Accor, which is partly owned by Colony.

Colony’s European investment arm has additional holdings that include a 9 percent stake in French retailer Carrefour.

Reuters first reported the executive shuffle. Colony, led by billionaire Thomas Barrack Jr., told Reuters it intends to invest at least 2 billion euros in Europe in the next 18 months.