It seems Cushman & Wakefield’s recent hires are responsible for the firm’s staff shifts.

Last month, we reported that global president Tod Lickerman became the CEO of the Americas, while Tri-State Region president Ron Lo Russo left to head C&W’s agency leasing practice and global COO John Santora took Ron’s job. While these seemed like demotions to many, John (pictured) insists these moves are what the three wanted.

John, for example, has been managing C&W’s national and international offices for close to 40 years and has no plans to leave, but he was eager to do work in his home market, he told the Commercial Observer.

Similarly, Ron had wanted to return to leasing for months, much like former CEO Bruce Mosler, who became C&W’s global brokerage chairman.

What finally got the train moving were the hires of Newmark Grubb Knight Frank’s Mark Weiss, CBRE’s Glenn Isaacson and Eastdil Secured's Douglas Harmon and Adam Spies. These heavy hitters required a shift in management positions, and that presented Ron, John and Tod with the opportunity they needed.

Where the firm goes from here, John said, will be announced soon. Another acquisition is doubtful, he says, adding no one besides TPG Capital can say if C&W will announce an IPO. All he could say was that the Tri-State region is growing. [CO]