Cushman & Wakefield and DTZ global merger closes
The new Cushman & Wakefield has announced the successful completion of the global merger between Cushman & Wakefield and DTZ. The firm has also announced its leadership team for Europe, the Middle East and Africa (EMEA) and unveiled a new visual identity and logo.
The combined firm, carrying the iconic Cushman & Wakefield brand, becomes one of the largest commercial real estate services firms in the world. The new firm draws on the best of both legacy organisations, with $5 billion in revenue, 43,000 employees and more than 4.3 billion square feet under management, and $191 billion in transaction value.
The EMEA business is being led by John Forrester, Chief Executive Officer, and Carlo Barel di Sant’Albano, Chairman.
“Today is an historic moment for global real estate,” said Mr Forrester. “Our merger has tremendously accelerated our collective goal of increased scale and client service worldwide, something we could not have accomplished alone. This increased scope allows us to deliver a broader spectrum of commercial real estate solutions. We have a leading position in all the foundation cities around the world and can provide services in every major global market.”
In EMEA, the new Cushman & Wakefield has 5,000 employees in 40 countries and revenues of almost $800 million. It is now a top three commercial property firm in every major European metropolitan economy, a leader in capital markets, occupier services and all major commercial real estate sectors. Its clients include nine of the top 20 Forbes global brands and 82 percent of the top 50 cross-border investors.
The combined firm, led globally by Chairman and Chief Executive Officer Brett White and President Tod Lickerman, now operates in more than 60 countries around the world and is well positioned in every major market for continued growth.
Cushman & Wakefield has announced its EMEA leadership team. The firm 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 to life.
Carlo Barel di Sant’Albano said: “We have built our new operating model in EMEA to mobilise around our clients to ensure that we can identify and address the constant stream of challenges that they face daily, head on. Every one of our formidable EMEA leadership team is a market leader in their field.
“The diversity, experience and strength of talent at the new Cushman & Wakefield is the envy of the industry. Real estate is a people business at its core — and we have the best people in the business. This is one of our key differentiators which will make an immediate and positive impact with clients.”
Commenting on the merger, Charles Taylor, Head of Poland advised: “We are a fantastic fit in Poland as the two firms possess extremely complementary strengths, a shared culture and enviable track records. We will be able to deliver the very best real estate services and advice to existing and future clients, drawing on over 20 years’ experience in the Polish market. Unrivalled local expertise supported by a truly global platform will differentiate Cushman & Wakefield from the competition.”
Alan Colquhoun, Chair, Poland added: “The new Cushman & Wakefield will be a formidable business in the Polish market and a destination for top talent. I am very excited to be taking on the role of Chairman and working together with Charles to create a market leading business that offers broader services to our clients.”