Catch-up on Comp
The Wall Street Journal's CEO Compensation survey was announced yesterday, and it was reported that the median value of salaries, bonuses, and long-term awards for the CEOs of 350 major companies "surged" 11%. For the prior year, CEO pay was flat year over year. The pay bump reflects the economic recovery and a catch-up on pay that one would expect after a long dry spell. This parallels our observation generally in the market. We are observing that companies are beginning to ratchet up compensation, as they are concerned that as the markets recover and their top talent is more exposed to new "opportunities," they may be lured away. For employers today, the best offense is a strong defensive compensation strategy.
Tony LoPinto is the Global Sector Leader of Korn/Ferry International's Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
PALMER CAPITAL, INC.
Capital Markets Partner
(SACRAMENTO) The partner will be responsible for underwriting, marketing, structuring debt and equity, and the management of client relationships; among other duties.
COLE REAL ESTATE INVESTMENTS
Project Manager
(PHOENIX) The manager will be responsible for the coordination and execution of maintenance operations, capital expenditure and tenant improvement projects; cost estimating and lease review development relating to landlord work and tenant improvements; and prepare concise bidding direction to solicit vendor proposals with well defined, comparable work scopes; among other duties.
JONES LANG LASALLE
Asset Manager
(BALTIMORE) The manager will have direct responsibility for several properties, primarily office; develop and implement annual asset level strategic plans, including hold/sell analysis; work with property managers to develop annual operating and capital budgets consistent with strategic plan; and provide day-to-day oversight of property management companies; among other duties.
NEWMARK KNIGHT FRANK
Client Relations Manager
(NEW YORK CITY) The manager will manages a business's geographically dispersed real estate portfolio; space usage, recommendation of strategies to redeploy underutilized assets, and recommendation of strategies to take advantage of unique market conditions; actively participate in annual business unit planning process; and assist business unit lead with the development of the return on investment (ROI) model required to expand or open a new facility; among other duties.
COLLIERS INTERNATIONAL
General Manager/Operations Manager
(VANCOUVER, BRITISH COLUMBIA) The manager will be responsible for day to day operating requirements associated with a regional shopping centre; and oversee, purchasing, budgeting, operations, tenant relations and marketing and will execute on all operational requirements; among other duties.
CITY OF RICHMOND
Director of Planning and Development Review
(RICHMOND, VA) The director will be responsible for directing and executing a comprehensive municipal planning program, including amending the master plan, and is responsible for overseeing planning, development review, zoning, building permits and inspections, and property maintenance code enforcement activities; among other duties.
THE WENTWOOD COS.
Compliance Manager
(AUSTIN, TX) The manager will alert management to current regulatory rules and regulations; provide technical support and training to property operations staff; monitor any issues that involve rule violations; and develop compliance policies and procedures; among other duties.
VERIZON
Director, Real Estate Strategy and Support
(BASKING RIDGE, NJ) The director is responsible for program management and implementation of transformational strategies that will drive sustainable cost reductions across the real estate organization—worldwide; among other duties.
No more than one submission per company will be considered per week.
Submissions with multiple names will be capped at three for coverage in Executive Watch.
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CUSHMAN & WAKEFIELD
(BOSTON) Cushman & Wakefield is promoting Edward C. Maher, Jr. to the position of executive vice president, capital markets and David J. Pergola to executive director, capital markets.
MARCUS & MILLICHAP REAL ESTATE INVESTMENT SERVICES
(NEWPORT BEACH, CA) Marcus & Millichap is promoting Pasha Darvishian to director of the firm’s National Office and Industrial Properties Group; and is also promoting Bill Rose to director of the National Retail Group.
FLAGLER
(CORAL GABLES, FL) Flagler is promoting Karl Hanson to vice president of asset management services.
No more than one submission per company will be considered per week.
Submissions with multiple names will be capped at three for coverage in Executive Watch.
GREEN COURTE, LLC
(CHICAGO) Green Courte Partners is hiring Jane Mody as chief financial officer. Previously, Mody held executive roles in Crescent Real Estate Equities Co., Silverstone Capital Group, LLC, Pacific Retail Trust and Rosewood Property Co. Green Courte’s portfolio company, American Land Lease, based in Tampa, FL, is hiring Randy Kotler as its CFO. Kotler was previously the EVP and CFO of Avatar. Both hires were spearheaded by SelectLeaders.
MOHR PARTNERS, INC.
(BELLEVUE, WA ) Mohr Partners is hiring Eric Leland, Jeff Durrell and Eric Blohm as managing partners. Leland and Durrell each join Mohr Partners from Pacific Real Estate Partners, where Leland served as a vice president and Durrell as a principal, and Blohm joins from Flinn Ferguson Corporate Real Estate where he served as a director.
CARROLL ORGANIZATION
(ATLANTA) Carroll Organization is hiring Linda Masterson as regional vice president. Prior to joining Carroll Organization, Masterson was a regional property manager for Pegasus Residential.
SAVILLS LLC
(NEW YORK CITY) Savills is hiring Brad Lyons and Steven Vazquez as vice presidents
COLLIERS INTERNATIONAL
(PARSIPPANY, NJ) Colliers International is hiring Jeffrey Oram, who will serve as an executive managing director. Oram will focus on investment sales. Prior to joining Colliers International, Oram was a capital markets executive with Marcus & Millichap.
THE DAVIS COS.
(BOSTON) The Davis Cos. is hiring Daniel F. Wheeler as senior associate, asset management. Prior to joining the Davis Cos., Wheeler was asset manager at Colony Realty Partners.
SEYFARTH SHAW LLP
(LOS ANGELES) Seyfarth Shaw LLP is hiring Steven Fein as a partner in its Downtown Los Angeles office.
EDENS & AVANT
(NEW YORK CITY) Edens & Avant is hiring Ed Senenman as SVP, investments. Prior to joining Edens & Avant, Senenman was senior director of acquisitions at Federal Realty.
DDG PARTNERS
(NEW YORK CITY) DDG Partners is hiring Michael Ferry as a vice president, responsible for project management and property development. Previously, he was a project manager at Hines Interests. DDG is also hiring Andrew McKessey as an assistant controller. Previously, he was a senior accountant and accounting supervisor responsible for property development accounting at GFI Capital.
CB RICHARD ELLIS
(HOUSTON) CB Richard Ellis Capital Markets is hiring Ryan Epstein as first vice president to lead and expand the company’s multi-housing investment sales business in the Houston-Gulf Coast region.
HILTON REALTY
(PRINCETON, NJ) Hilton Realty is hiring Luke Marsden as director of commercial properties.
ALINDA CAPITAL PARTNERS
(GREENWICH, CT) Alinda Capital is hiring James Metcalfe as its seventh partner to focus on core infrastructure investments.
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