The Deal Sheet: Cushman & Wakefield's New Captain
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Ed Forst will start his new job as president and CEO of Cushman & Wakefield on Jan. 6. Most people join a gym in January, but traveling among the companyâ€™s 250 offices in 60 countries could also satisfy the popular New Year's resolution to exercise more.
Operations experience trumped lack of extensive real estate exposure on Ed's resume, Cushman & Wakefield chairman and EMEA CEO Carlo Barel di Sant'Albano told us yesterday. Cushman wasn't in a rush to fill the shoes Glenn Rufrano vacated six months ago, as Carlo (chairman/CEO of EMEA) is a qualified interim administrator, affording the company time to search for the right candidate. Real estate experience was not at the top of the list of priorities, Carlo says. That's Ed smiling brightly.
What Cushman parent company Exor got is a performance-oriented CEO with an operations track record (principal operating officer of Harvard for a year) and an understanding of global service organization challenges (10 years as global co-head of Goldman Sachs' investment management division), as well as an engaging, charismatic leader for its more than 16,000 employees, Carlo says. Dallas market leader and senior managing director Steve Everbach tells us that Ed's pedigree, experience, connections, and the track record makes him an excellent choice to lead the firm. Steve says he's excited about where Ed will take Cushman & Wakefield. Also in his background: Ed's work at Harvard overlapped with his service as an advisor to Treasury Secretary Henry Paulson.