Doug Jones, head of Cushman & Wakefield’s Dallas office, is no longer with the firm.
Sources told the Dallas Business Journal that Jones, who has been managing principal since 2021, left his post last week. A company spokesperson confirmed a hunt for his replacement is underway.
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Jones took the job at Cushman & Wakefield after his predecessor, Ran Holman, left the firm for Newmark, a company that made waves with several high-profile poaches earlier this year.
The reason for Jones’ departure is unknown. He didn't immediately respond to Bisnow’s request for comment.
The end of Jones’ tenure at the Chicago-based brokerage comes on the heels of other big-name exits. Carlo Barel di Sant’Albano, the firm’s CEO of global capital markets and investment services, left earlier this year after playing a pivotal role in the company’s lawsuit against two former employees accused of violating noncompete and nonsolicitation agreements, per CoStar.
Then, the firm lost two CEOs in the span of 18 months. Former Chief Operating Officer Michelle MacKay took over for John Forrester at the end of June.
Cushman & Wakefield, like its fellow brokerages, has seen revenue plummet in recent months as the Federal Reserve’s interest rate raises have stymied transactions. The firm announced during its second-quarter earnings call plans to mitigate those losses with $130M worth of cost cuts this year.
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