Cushman & Wakefield is making changes at the top ahead of what is expected to be an eventful new year.
Marla Maloney and Brad Kreiger were named the brokerage’s co-CEOs for the Americas as part of a restructuring aimed at prioritizing the brokerage's core client segments, occupiers and investors.
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Maloney will lead the Americas investor services department, which supports C&W’s largest clients with capital markets, agency leasing, property management and other functions. She has been with Cushman & Wakefield for more than two decades and was most recently its president of Americas services.
Kreiger will be focused on the brokerage’s suite of advisory services and sales capabilities. He has worked at the company since 2015, most recently serving as the company’s chief marketing officer.
The co-CEOs were officially promoted on Friday. They report to Global President and Chief Operating Officer Andrew McDonald, who is directly under C&W CEO Michelle MacKay.
“There’s real momentum in our business right now. The changes announced today better position us to accelerate growth in 2025 and beyond,” McDonald said in a statement.
“We're now in growth mode, and that means having the right people in the right positions to make decisions,” he added. “We're really hyper-focused now on profitability and growth, and that's why we're shifting to a new organizational model. All services businesses need to make a regular audit of how they are aligning around their clients.”
Cushman & Wakefield had a strong third quarter, reporting $2.3B in revenue, up 3% from a year prior. The brokerage’s leasing revenue expanded by 13% last quarter, which was its largest year-over-year growth since 2022. The boost in leasing revenue was a product of increased activity in the Americas and Asia.
The Federal Reserve’s interest rate cuts were a boon for the brokerage, MacKay said on an earnings call earlier this month.
“What we've seen is a real step forward in the investor mindset, from risk off to risk on,” the CEO said. “The Fed’s move in September was a really important first step for us. There is an enormous amount of pent-up demand waiting, and we believe we are positioned exactly where we need to be to handle that demand.”
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