Iconic brand to unite the combined organization as the new Cushman & Wakefield – Creates one of the largest commercial real estate services firms in the world
NEW YORK, Sept. 2, 2015 – The new Cushman & Wakefield, a global leader in commercial real estate services, announced today the successful completion of the merger between Cushman & Wakefield and DTZ.
The new Cushman & Wakefield draws on the best of both legacy organizations to create one of the world’s largest real estate services firms, with a combined total of $5 billion in revenue, 43,000 employees, more than 4.3 billion square feet under management, and $191 billion in transaction value. Cushman & Wakefield will be led by Chairman and Chief Executive Officer Brett White and Global President Tod Lickerman. Cushman & Wakefield is majority owned by an investor group led by TPG, PAG, and OTTP.
“This is a game-changing event in commercial real estate,” said Mr. White. “Both legacy firms had been aggressively growing their respective platforms and deepening their reach into the market with new acquisitions and talent. Now we have the opportunity to see these ambitions come together – capturing the momentum in the market and clearly claiming our position at the top of the industry.”
Cushman & Wakefield now operates in more than 60 countries around the world and is well-positioned in every major market for continued growth. The new Cushman & Wakefield is a top-tier global commercial real estate service provider in every service line and every major geography in the world. With a tenacious, entrepreneurial and client-centric culture of highly skilled people behind both firms, the new company will be able to tap into greater resources worldwide to ultimately deliver superior results for clients.
Mr. Lickerman said, “The completion of the merger is a historic leap forward, but it isn’t the end of our journey. Today is an important milestone that propels us into a future rich with opportunity for our clients, our people, and our company.”
“The formation of the new Cushman & Wakefield is the next chapter in the most exciting growth story in the real estate industry,” said David Bonderman, TPG Founding Partner. “TPG is excited to partner with Brett and his management team as they continue to grow the business.”
“I am confident that our people, armed with exceptional resources and the excitement of being in the center of this powerful evolution of our industry, will deliver a level of service and quality to our clients equal to the very best our industry has to offer,” said Mr. White.
Americas Leadership
Cushman & Wakefield has built a team that will provide the practical experience, management skill, business acumen, and client service expertise necessary to bring an aggressive growth strategy and global platform to life. The new leadership has developed an operating model to organize and mobilize for clients locally, regionally, and globally.
Reporting to Joe Stettinius, Chief Executive, Americas:
Region Presidents
Ron Lo Russo, Tri-State Region President/NY City Region Market Lead
Shawn Mobley, East Region President/North Central and Southeast Region Market Lead/Chicago Market Lead
Celina Antunes, South America Region President
Mike Smith, West Region President/Texas Region Market Lead
Region Market Leads
Luis Alvarado, Northeast Region Market Lead/Boston Market Lead
Dan Broderick, Southwest Region Market Lead/San Diego Market Lead
Jim Fagan, Connecticut Region Market Lead/Stamford and Westchester Market Lead
Mike Kamm, Northwest Region Market Lead
Victor Lachica, Mexico Region Market Lead
Roberta Liss, Mid-Atlantic Region Market Lead/DC Metro Market Lead
Dean Mueller, South Central Region Market Lead
“Cushman & Wakefield has a great team on the field. We’ve drawn from the legacy firms and from the industry to put in place the best talent and best leadership possible,” said Mr. Stettinius. “We have the right platform and the right people sharing our client-centric culture and a strong desire to aggressively grow our business in the Americas.”
New Visual Identity
As part of the announcement, Cushman & Wakefield is also unveiling a new visual identity and logo, reflecting the legacy of a trusted global brand, drawing on a wider history, and positioning the firm for the future.
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
