Consolidation of Units Creates New Group for Cushman & Wakefield

NEW YORK CITY-Christopher J. Lowery was recently named executive vice president of the Cushman & Wakefield Advisory Group. Consolidating the firm’s previously existing strategic and analysis units, valuation advisory, structured finance and analysis businesses formed this group. Lowery tells GlobeSt.com this is the result of an evolution, reflecting that of the servicing industry itself.

The evolution process he describes is one that developed out of a “recognition of a steady and subtle shift from servicing owners to servicing users of space.” Additionally, moves to globalization and increasing complexities of the needs of tenants, has increased the breadth of services firms need to provide. Lowery says the operations of the consolidated businesses were “free standing, silo fashion,” and needed to “deliver services holistically.”

When asked to respond to observers who might speculate that the consolidation was a means of becoming more cost effective and a reaction to the downturn of the market, he says, “that didn’t enter into it for us.” He says their focus was only on their clients. “You don’t get to where we are chintzing on finances or nickle and diming,” he emphasizes. He also notes the company has “lead the charge” in each of its services.

“We’re not just taking our resources upstream, but backfilling. Our brokers are tops and will continue to be the core of our operations. What we’re doing is allocating some of our capabilities to support them,” he explains, “and at the same time taking our sophisticated professionals from the four businesses and bringing them together to stand on their own as equals to our brokers.”

Of his own experience he brings to the table and how it will benefit the group, he says, “I originally came out of development, which gave me a broad-based education. When I came to Cushman & Wakefield I was responsible for investment, then managed teams like the financial consulting group, which became our structured finance unit. My career has evolved and with it my experience working with brokers and clients and the understanding of how best to meet their needs.”

“Hopefully what the Advisory Group and I will do,” he concludes, “is allow clients who may have felt that they needed a deep knowledge of our operations to fully access all of our services, to have all of their needs met more efficiently by one unit. We’ll no longer be waiting for them to come to us, we’ll be anticipating their needs. In the traditional model, firms answer questions their clients bring to them. We can actually take that two or three steps further with our Advisory Group and bring opportunities to them. We can help our clients and do scouting to bring in new clients. We’re moving from being tactical to strategic, from reactive to proactive.”