Eastdil Hires Allianz’s Head of Acquisitions and Equity Investments

Gary Phillips joins Eastdil Secured as managing director

NEW YORK CITY—Previously the head of acquisitions and equity investments at Allianz Real Estate of America, Gary Phillips, is joining Eastdil Secured this month. He was brought on as a managing director focusing on equity sales and capital markets. The Wall Street Journal reported this was “a move that could bolster the broker as its parent company Wells Fargo & Co. weighs a sale of Eastdil.”

Wells Fargo has been in negotiations to sell the real estate firm for more than a year. The WSJ wrote that Eastdil’s chief executive Roy March had taken over these efforts. The Real Deal reported in August that the California-based bank was shopping the brokerage at private equity firms. The publication referenced by analogy how TPG bought Cushman & Wakefield in 2015 for approximately $2 billion.