NEW YORK CITY-Since 1990, John D. Busi’s valuation oversight at Cushman & Wakefield has grown exponentially. He began overseeing the firm’s New York valuation & advisory practice 22 years ago and took on national oversight and then Americas beginning in 2004. As of this coming Jan. 1, he’ll be taking on the world as global head of C&W’s V&A group, assuming leadership responsibility for the group’s 99 offices in 57 countries.
The V&A group’s current head, Brian Corcoran, who has served in that capacity since 2006, will now be leading C&W’s real estate arbitration practice in New York. A 31-year veteran of the firm, as is Busi, Corcoran will focus on representing major Manhattan property owners on arbitrations, valuations, rent redeterminations and complex litigations, according to a release.
In a statement, Glenn Rufrano, C&W’s president and CEO, cites the “seamless transition” that’s taking place between Corcoran and Busi. “Working as close partners, for more than 25 years Brian and John have led strategic initiatives that built our V&A platform into one of the largest fully integrated real estate valuation and consulting organizations in the world,” he says. “We thank Brian for his valuable contributions over the years and we look forward to John’s contributions as part of the firm’s management committee.”
During his eight-year tenure as head of the national V&A platform, Busi oversaw its shift in focus to asset class specialization and introduced nearly 20 new specialty practice groups. He also led the launch of a technology initiative and built a quality control platform. As he assumed the role of head of V&A for the Americas region, he was active in the continued globalization of the firm’s management structure while guiding organizational growth in the Americas.
That globalization of management kicked into high gear after Rufrano took the reins as CEO in March 2010. “We think it’s important to coordinate not only the geographies but also the business lines,” Rufrano told GlobeSt.com three months after he came aboard.
C&W’s V&A line, for example, “does quite a bit of business not only in the Americas but also EMEA and Asia-Pacific,” Rufrano pointed out. “What we really want to do is make sure our clients who are requesting valuations across the globe are being serviced. We have felt they already are, but the way you maintain that is to have your finger on the pulse not only of the business line but also how the business line is presenting itself across the globe.”
Busi’s global management team will include co-head Rupert Dodson, overseeing V&A in EMEA; Simon Lynch, head of V&A for the Asia Pacific region and an Americas team led by Nicole Bradley (US) Scott Chandler (Canada), Marcelo Santos (South America) and Juan Carlos Ulloa (Mexico/Central America). Bradley was named a Woman of Influence in the July/August issue of Real Estate Forum this past summer.