Cushman & Wakefield Leadership Shuffle Continues With COO, Tri-State President Demotions
After 40 years at the firm, John Santora (left) has been appointed to be Cushman & Wakefield’s Tri-State region president, while Ron Lo Russo (right)—who’s stepping down from the position—will now lead the firm’s Tri-State leasing practice.
Before his most recent stint as Global COO, John held several management positions prior to C&W's merger with DTZ, including CEO of the Americas and global head of client services. He joined the firm in 1977.
Ron joined C&W in 2013 from Vornado—where he was VP of leasing and oversaw 6.5M SF of office space—to manage the Tri-State area’s brokerage operations. He continued to do so after C&W was acquired by DTZ for $2B last year.
The global president and global COO roles will be consolidated, a C&W spokesperson told Bisnow. Current C&W global president Tod Lickerman, who will also take a step down and become CEO of the Americas, says the move, effective Dec. 1, was done to build the firm’s strength in NYC and deepen its relationships with landlords.
But, as noted by The Real Deal, both moves are steps down for the executives and new entries of an ongoing talent shuffle.
In August, global head of the valuation and advisory division John Busi left for Newmark Grubb Knight Frank. Earlier this month, senior managing director Nicola Heryet left for Avison Young, while C&W acquired a five-person investment sales team led by superstar brokers Doug Harmon and Adam Spies, formerly of Eastdil Secured.
The Real Deal reports the latter hires were part of C&W’s plan to launch an IPO in the near future.
Earlier this week, C&W announced Americas CEO Joe Stettinius would become the CEO of Americas brokerage and capital markets. Lickerman is to become the CEO of the Americas. Both joined the firm last year, after the mergers with DTZ and Cassidy Turley, where Joe was CEO.
Whether these moves are also part of the IPO plan—and who will become global president and COO—is still unknown.