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Savills Studley is launching a new investment sales team in New York City, and it is doing it by hiring away two CBRE executives and acquiring a boutique firm launched by Cushman & Wakefield alumni.
The tenant representation-focused Savills Studley acquired RP Capital founded by Michael Rotchford and David Heller, who spent time at CBRE and C&W. The firm, which has a Manhattan office at 399 Park Ave., also brought on CBRE executive vice president Paul Leibowitz and senior vice president David Krantz.
Rotchford will join executive managing director Woody Heller (no relation) to launch the new group. Savills Studley is a subsidiary of London-based Savills plc.
“Capital markets is an important part of Savills’ business globally,” Savills CEO Jeremy Helsby said in a release. “New York is a key component of helping Savills secure global capital flows for the benefit of our global clients.”
The moves come amid a new normal of poaching among major brokerages that has settled in across the city. Among the recent high-profile moves was Doug Harmon and Adam Spies coming to Cushman & Wakefield from their longtime home at Eastdil Secured, and Richard Baxter, Scott Latham and Ron Cohen leaving JLL for Colliers International.
Rotchford and Leibowitz join Woody Heller as past recipients of REBNY "Ingenious Deal of the Year" awards.
“Savills enjoys a prominent place in the global real estate capital markets, and Savills Studley is the premier firm representing corporations in the US," Rotchford said in a statement. "I’m excited to help build this new group with my partner Woody Heller.”
CORRECTION, Feb. 15, 9:15 p.m. ET: A previous version of this story incorrectly identified Michael Rotchford and did not include Jeremy Helsby's last name. This story has been updated.
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