What's the Succession Plan at Cushman & Wakefield?

 

 

 
 
Carlo Barel di Sant'Albano Bloomberg via the Wall Street Journal

A Wall Street Journal blog reports that interim Cushman & Wakefield CEO Carlo Barel di Sant'Albano has the inside track on getting the full appointment.

Di Sant'Albano is executive chairman of the New York-based real estate investment and management firm, and took over when Glenn Rufrano exited in June. 

The item notes that di Sant'Albano "didn't start out in the real-estate business, but he has become steeped in it since 2006, when—as chief executive of Italy's Agnelli family's investment company—he led its acquisition of a controlling stake in Cushman & Wakefield. He moved to Cushman & Wakefield's executive chairman post in 2010 after leaving his job as chief executive of parent Exor SpA.

The article says "some big producers at the firm have mounted a quiet internal lobbying campaign for him to get the job permanently."

The article says succession at the real estate firm is focuses on Shahriar Tadjbakhsh, a former Goldman Sachs staffer who has been Exor's chief operating officer since 2012 and is now heading a search committee.

Tadjbakhsh, the article says, "played a key role in the friction that led to Mr. Rufrano's departure: over how much of Cushman & Wakefield's profit should be reinvested with the firm, according to people familiar with the matter.

You can find statments from Tadjbakhsh and dSant'Albano in the WSJ's article here.

Meantime, Rufrano landed on his feet last week. He returned as chairman and CEO at O’Connor Capital Partners, a privately-owned real estate investment, development and management firm where he previously had worked for 17 years.  We linked the move here.

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