Empty Bench

Over the past two weeks, we have commented on the Merrill Lynch and Citibank CEO debacles, and the generous paychecks they, and other failed CEOs, have received on their way out. However, even more amazing is that neither company had a successor in the wings. Only about 50% of all companies prepare for succession (not just the CEO, but other senior management positions). Succession planning is an important process that, when well-managed, provides for seamless and positive organizational transitions. The alternative is disruption, loss of productivity, angst among the troops and a whole host of other negative effects caused as the chair is empty and a search evolves for the successor. It is the responsibility of company leadership and–in the case of a public company, the board–to insure that succession planning is built into the management discipline, and is a deliberate and thoughtfully executed process. It’s bad business if your company fails to include succession planning in its management agenda.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.
Job Opportunities
DRA ADVISORS LLC Asset Manager-Retail (NEW YORK CITY) This position entails working with the acquisition and disposition departments during the life of the asset. JONES LANG LASALLE Senior Project Manager (FAIRFIELD, CT) This hire will oversee project implementation through completion of construction, manage tenant improvement projects, space planning and design, and more. NEWCASTLE LIMITED Director of Real Estate Research (CHICAGO) Newcastle is seeking an experienced real estate economist and researcher to monitor the Chicago economy and real estate market, analyze market conditions and trends, and provide meaningful, actionable input into the firm’s investment strategy and acquisition decisions. EQUITY OFFICE PROPERTIES Manager-Project Management (CHICAGO) Responsibilities will focus on supporting the leasing teams with prelease activities, and in executing tenant improvements and capital projects in a cost effective and efficacious manner. MOBILITIE LLC Senior Acquisitions Associate (HERNDON, VA) The company seeks an associate to conduct analysis on potential transactions, coordinate with legal council in assessing risk of potential transactions, conduct due diligence and work in assisting the close of transactions. DBSI-DISCOVERY REAL ESTATE SERVICES Senior Real Estate Sales Analyst (BOISE, ID) This position will assist the sales operations director in balancing the supply/demand between sales and acquisitions, overseeing the communication and roll out of property information and helping to determine property allocations and sales viability. SELECTLEADERS Maintenance Supervisor/Maintenance Tech (CARTERET, NJ) This hire will work with the property manager in managing all maintenance-related and capital improvement activities within an assigned property. AIMCO VP, Construction Services (IRVINE, CA) Reporting to the SVP of construction–Pacific Division, this individual will build, manage and direct construction practices throughout the Southern California region. EQUITY INC. Senior Real Estate Analyst (WORTHINGTON, OH) Primary responsibilities include the creation and maintenance of complex development project pro-forma and detailed analysis of potential acquisitions, including occupancy, valuations, sales and underwriting, and lease analysis.
GROSVENOR (BRISBANE, AUSTRALIA) Kate Brown is promoted to group director for environment and design, a newly created position that comes on line Jan. 1. She previously was development manager for Grosvenor Australia Asia Pacific and has worked for the firm’s UK operations. She will continue to be based in Australia as the only member of the group holding company to be based outside the UK. HOLLAND & KNIGHT (WASHINGTON, DC) Janis Schiff, a partner in the firm, is named section leader of its 220-lawyer real estate section. The appointment takes effect in January. MARCUS & MILLICHAP (LOS ANGELES, DALLAS and WASHINGTON, DC) Scott Lamontagne is named regional manager of the Los Angeles office, rising from sales manager in Dallas. In Dallas, Stephen Maulden backfills Lamontagne’s spot as sales manager. In Washington, DC, Ari Firoozabadi goes to director from associate director. ATWELL-HICKS (BRIGHTON, MI) Daniel E. McNulty is promoted to COO from vice president. PATRINELY GROUP (HOUSTON) Owen Duke is named head of the Southeast region. For the past 10 years, he’s been executive managing director of Crimson Services, Patrinely’s mortgage affiliate. KEYSTONE PACIFIC PROPERTY MANAGEMENT (IRVINE, CA) Erica Griffith becomes group coordinator, rising from senior community association manager. THORNTON TOMASETTI (CHICAGO) Nicholas L. Steele is made associate after working as a senior project engineer. CARTER (ATLANTA) John Jokerst and Bill Morrison earn senior vice president titles. Jokerst started with Carter in 1998 and Morrison came on board the following year. WP REALTY (BRYN MAWR, PA) The firm promotes Timothy S. Herb to vice president of development from senior development director. Also, Jason C. Hess rises to vice president and associate general counsel. Gordon Powley becomes regional property controller. NORDBLOM CO. (BURLINGTON, MA) The firm elevates Daniel Bowen to senior vice president and director of capital markets. PATHWAY REAL ESTATE ADVISORS (HOUSTON) Partner Patrice Wooten Hightower is made secretary-treasurer. She also is founder and president of Pathway Management Group.
New Hires
CARLTON ADVISORY SERVICES (NEW YORK CITY) John H. Jackson joins as senior vice president of the loan sale group. He previously worked for the Office of Federal Housing Enterprise Oversight, where he primarily was responsible for the analysis of Fannie Mae’s $800-billion-plus portfolio. STAUBACH (NEW YORK CITY) Eric J. Thomas starts as a director in the corporate services group. With seven years in the business, he most recently was with Studley. STUDLEY (McLEAN, VA) Glen Peacock and Daniel Klueger come on board as associate director and assistant director, respectively. Peacock has worked for Cushman & Wakefield Inc. and Spaulding & Slye Colliers. Klueger was founder and CEO of UHappen.com. BUTZEL LONG (NEW YORK CITY) Samuel M. Ofsevit comes on board as a shareholder and Irwin Reicher and Martin David Schechter as of counsel. The trio had been partners in Linett Schechter Reicher & Ofsevit LLP. CB RICHARD ELLIS (HOUSTON) Denise Hamilton becomes manager of business development for the Houston Pursuit team. She most recently worked for the Greater Houston Partnership. CASSIDY & PINKARD COLLIERS (WASHINGTON, DC) Kevin Thorpe starts as vice president and research director. He has spent more than eight years as an economist for the National Association of Realtors, where he most recently was manager of housing statistics. NAI CAPITAL (ENCINO, CA) Jeremy Barbakow begins as senior vice president. He most recently was a principal of Lee & Associates LA North/Ventura Inc. BINSWANGER (PHILADELPHIA) Stephen C. Brangman is made vice president of the commercial division. He previously worked as an agent for Marcus & Millichap Real Estate Investment Services. CUSHMAN & WAKEFIELD (MELVILLE, NY) Frank Frizalone steps in as executive director of the national industrial services group. Frizalone was a former managing principal of Newmark Knight Frank. BUCHANAN STREET PARTNERS (ATLANTA) Steve Yeager takes his place as senior vice president, responsible for executing principal investment opportunities. He most recently was vice president of development for Hamby Corp. NAI JAMES E. HANSON (HACKENSACK, NJ) Michael Jamgotchian and Michael Hong begin as associates. Jamgotchian came from Winick Realty Group LLC and Hong from Starmax Realty. MARCUS & MILLICHAP (EL SEGUNDO, CA) James Clinton starts as director of market research. Clinton had been director of account management for Agistix Inc. GVA ADVANTIS REAL ESTATE SERVICES (ORLANDO) Brian Gordon comes aboard as associate of office services. He most recently was assistant real estate manager at CB Richard Ellis. PIRCHER NICHOLS & MEEKS (CHICAGO) Marisa R. Doherty joins the real estate department as an associate. Most recently, she was a legal intern and law clerk at LR Development Co. LLC and Kaitz & Associates LLP.

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