CALABASAS, CA—John Kerin is retiring as president and CEO of Marcus & Millichap effective March 31, the company announced Tuesday afternoon. The company's board has named Hessam Nadji, currently senior EVP, to succeed Kerin in both capacities effective on that date.

George Marcus, founder and co-chairman of the investment sales brokerage firm, says the transition occurs at “a time of strength for our company, given the growth of our highly respected brand, deep management team and strong balance sheet. John and Hessam have worked very closely over the years. John's retirement and Hessam's promotion are a natural and positive transition.”

Kerin's commitment and contributions to MMI over the past 35 years “have been tremendous; he has been a trusted leader, mentor and friend,” says William Millichap, the company's co-chairman. “John has been instrumental in effecting our growth and our transition from a private to public company. We are very appreciative of John's commitment over the years and thank him for his long record of leadership.” Upon retiring, Kerin will serve as a senior advisor to the company and will provide consulting services.

A key member of the MMI team since 1996, Nadji brings “leadership as well as his management strengths” to his new role, Marcus says. “He has been instrumental in developing our strategies and growth plans, particularly in expanding our specialty brokerage divisions and enhancing the MMI brand. Given Hessam's exceptional track record, we believe he is the best successor to the position of president and chief executive officer. We are confident that he has the talent and experience to excel in this role and is the perfect choice to take on the leadership of our firm.”

Nadji is frequently sought out by business media for his insights into commercial real estate and the macroeconomic environment, and is a GlobeSt.com Thought Leader. Most recently he was named senior EVP this past May, after being named chief strategy officer in 2013. He has been with the Company since 1996 serving in numerous roles.

Over the past several years, Nadji has overseen MMI's national specialty brokerage sales division, the mortgage brokerage division and research and advisory services divisions. Before joining MMI, Nadji was SVP at Grubb & Ellis.

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MMI's Kerin to Retire as CEO, Succeeded by Nadji

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