Andrew “Andy” Power is a real estate executive and former investment banker who serves as President and Chief Executive Officer of Digital Realty, one of the world’s largest owners and operators of data centers. He has also served on the company’s Board of Directors since he was appointed CEO in 2022.
Power’s career has been closely connected to Digital Realty for more than two decades. He first worked with the company as an investment banker during its initial public offering in 2004. He later joined Digital Realty as Chief Financial Officer, became President, and was eventually selected to lead the company as CEO.
Before moving into corporate leadership, Power advised real estate companies on major capital raises, acquisitions, and public-market transactions.
Early Life and Education
Andy Power attended Wake Forest University in North Carolina, where he completed a Bachelor of Science degree in Analytical Finance.
After graduating, he began a career in investment banking, specializing in real estate companies and real estate investment trusts.
Power has also described himself as having grown up as a Star Wars fan. He referenced this interest in 2025, expressing his enthusiasm for Lucasfilm’s expansion of its use of Digital Realty’s infrastructure.
Business
Andy Power began his investment banking career at Citigroup, where he held several positions within the company’s Real Estate Investment Banking group.
One of the most important assignments of his early professional life was Digital Realty’s IPO in 2004. Power was part of the lead underwriting team that advised the company as it entered the public markets. He remained involved with Digital Realty in the years that followed and served as a lead manager on nearly every subsequent public capital raise completed by the company before joining it as an executive.
Power later moved to Bank of America Merrill Lynch, where he became Managing Director of Real Estate, Gaming and Lodging Investment Banking. In that role, he was responsible for relationships with more than 40 public and private companies, including Digital Realty.
During his investment banking career, Power managed the execution of more than $30 billion in public and private capital raises. He also participated in more than $19 billion of merger and acquisition transactions. His work included what was, at the time, the largest real estate investment trust initial public offering.
Power joined Digital Realty as Chief Financial Officer in 2015. In addition to overseeing the company’s financial functions, he took responsibility for areas including global portfolio operations, asset management, information technology, technology development, and solutions for enterprise and service-provider customers.
In November 2021, Power was appointed President of Digital Realty while continuing to serve as CFO. In December 2022, the company’s Board of Directors appointed him Chief Executive Officer and elected him to the board.
During Power’s time at Digital Realty, the company grew into a global data center platform with facilities across the globe. Its expansion has included acquisitions, new developments, international partnerships, and investments in large data center campuses.
Power has also overseen the use of private investment partnerships alongside Digital Realty’s access to the public capital markets. In selected transactions, institutional investors have acquired interests in established data center portfolios, allowing Digital Realty to reinvest capital in new development projects.
Leadership in Digital Infrastructure
Since becoming CEO, Power has led Digital Realty during a period of rapidly increasing demand for cloud computing, artificial intelligence, and digital infrastructure.
He has continued to position the company as a provider to a broad range of customers, including major technology companies, telecommunications providers, financial institutions, manufacturers, and other enterprises. Power has emphasized that Digital Realty’s strategy is not dependent on any one technology company or any one customer category.
He has also described data centers as long-term infrastructure rather than technology-related real estate. In his view, they play a role in the digital economy comparable to that of highways, airports, and seaports in the movement of people and physical goods.
Power has argued that the data center market is not currently in a state of oversupply. He has pointed to strong customer demand, low vacancy rates in major markets, and long-term leases extending for 15 years or more.
He has also become a prominent representative of the industry as concerns have increased about electricity availability, water consumption, development incentives, and the effects of large projects on local communities. Power has said that data center operators must explain their role more clearly, invest responsibly, and work closely with utilities and the communities where they develop facilities.
Andy Power serves on the Board of Directors of Americold Realty Trust, a publicly traded REIT that specializes in temperature-controlled logistics properties. He is also a member of Americold’s audit and investment committees.
In July 2024, Power joined the Board of Directors of The Real Estate Roundtable for a three-year term, extending his involvement in the wider commercial real estate industry.
Personal Life
Power lives in Austin, Texas, with his wife and two daughters. Earlier in his career, he lived in Manhattan, New York, and later in San Francisco. Outside work, he enjoys running, cycling, and skiing, activities he has described as helping him recharge and spend time away from his professional responsibilities.
