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NEW YORK CITY-In the wake of the merger this summer of CB Richard Ellis and Insignia, two brokers who had been longtime leaders in investment sales for Insignia, have jumped ship. Richard Baxter and Ron Cohen settled their contracts with the merged CBRE and promptly signed on with Cushman and Wakefield.

Baxter and Cohen are working on building C & W’s investment sales and will concentrate on upper tier investment sales in the city, according to Bruce Mosler, president, US operations, Cushman & Wakefield.

Though he could not reveal contractual terms, Mosler tells GlobeSt.com that there were no signing bonuses. “I’ve known these guys for a long time and they were just looking for the right platform. I have high expectations for them.”

CBRE officials issued a statement about the brokers’ departure. “Rich and Ron are longtime members of our family and we have the highest esteem for them, both personally and professionally,” says Joseph R. Harbert, CBRE vice chairman and general manager, New York City. “Even with their departure, however, we still have the number one investment sales team in New York and our clients will continue to be well served by Darcy Stacom, Bill Shanahan and their colleagues, who have sold an average of more than $1 billion of New York City properties annually for the past five years.”

Just last week, CBRE lost another big name when an executive managing director Woody Heller joined Studley, where he will serve as executive managing director and head of its new Capital Transactions Group.

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