The move is actually a homecoming for Wallach, who was senior vice president and general counsel for Edward S. Gordon a decade from 1987 to 1996, and then with Insignia after the latter acquired the former. For the last two years, he has been serving as senior operations executive for the New York branches of Cushman & Wakefield, managing the firm's daily operations in New York. Earlier in his career, Wallach was a business and commercial litigation lawyer and a partner in the New York law firm of Tenzer Greenblatt Fallon & Kaplan. His return to IESG is effective immediately.

"I am thrilled to be coming home to Insignia/ESG," Wallach tells GlobeSt.com. "My goal here is to continue to strengthen the company's platform in the state of New Jersey by supporting our brokerage staff and building on our resources and services."

"We could not have a better person leading our operations in New Jersey," according to Stephen B. Siegel, chairman and chief executive officer of Insignia/ESG in New York. "He understands our client-focused culture. He is an exceptionally strong manager who will provide leadership and assist us greatly in maintaining our status in New Jersey."

Besides its home office in Saddle Brook in the northern part of the state, IESG maintains a Central New Jersey office in East Brunswick. Through its strategic alliance with Buschman Partners, the company also maintains a major presence in the Princeton market.