Lickerman Steps Down, Mobley Named CEO for Americas at Cushman & Wakefield
Latest Moves Follow Previous Round of Executive Promotions, Reassignments in Early November
From left, incoming Cushman Americas CEO Shawn Mobley; Michelle Hay, global head of human resources and John Forrester, global president.
Cushman & Wakefield announced today that Tod Lickerman, who was named CEO of the Americas in a major realignment of the brokerage's senior leadership just over a year ago, has left the company and will be replaced by Shawn Mobley, who most recently served as president of the company's East Division
The Chicago-based CRE services company also announced the promotion of John Forrester to global president and Michelle Hay to global head of human resources.
It's the latest of several changes to Cushman's senior management team in the Americas, including the assignment earlier this month of brokerage and capital markets CEO Joe Stettinius to the position of executive vice chairman, strategic investments, and handing global capital markets and investor services CEO Carlo Sant'Albano the added role of chief executive overseeing those functions in the Americas.
The moves today and earlier in November, which Cushman described in a statement at the time as designed "to elevate top talent and more closely align the firm with client needs," come as the third-largest global CRE services provider behind CBRE Group, Inc. (NYSE: CBG) and Jones Lang LaSalle (NYSE: JLL) is believed to be exploring a possible initial public offering.
In addition to leading Cushman's eastern operations and Canada, Mobley also headed the firm's global headquarters office in Chicago and led its industrial platform in the Americas.
Forrester's role as global president will include oversight of the firm's four global regions of the Americas, EMEA, APAC and China. Working closely with Cushman CEO Brett White, he will be based in London. Forrester previously served as chief executive EMEA at DTZ prior to the merger with Cushman. He also acted as group chief executive of DTZ Holdings PLC and led the formal sale of DTZ to UGL in 2011.
"We are a very different organization to the one we were at merger and as we’ve grown we've remained entrepreneurial and action-orientated," Forrester said in a statement early today. "That’s important as the industry is changing fast."
Lickerman could not be reached for comment. A post on his LinkedIn profile, which has since been taken down, read "After 4 great years helping to lead DTZ and Cushman & Wakefield, I'm happy to say that I'm taking a well earned break."
Lickerman, who previously served as chief executive for JLL's Corporate Solutions group in the Americas, took over as DTZ's chief executive in 2013 and became global CEO when DTZ merged with Cassidy Turley. He served as global president of Cushman & Wakefield, reporting to Chairman and CEO Brett White before being shifted to Americas CEO last fall.
The previous Cushman announcement in early November also included an expansion and realignment of leadership roles in Cushman's western U.S. operations. Cushman promoted Executive Managing Director and Regional Managing Principal for Greater Los Angeles/Orange County Andrew McDonald to serve as president of Cushman & Wakefield's West Region.
The company reassigned West Region President Mike Smith to the position of managing principal in San Diego and Mexico, where he will be responsible for recruiting and supporting talent and continuing to build client relationships. Before his role at Cushman, Smith was president of CBRE’s Northwest Region, overseeing operations of 17 corporate offices across five states.
In addition to Lickerman's shift from the position of global president to Americas CEO in late October 2016, Stettinius moved into the newly created position of chief executive, Americas brokerage and capital markets. Previously, Stettinius had served as Americas CEO for DTZ prior to its merger with Cushman & Wakefield and before that, led Cassidy Turley as CEO prior to its merger with DTZ in early 2015.
An investment group led by Fort Worth, TX-based TPG Group closed the $2 billion purchase of the 100-year-old Cushman in September 2015.
Sant'Albano will retain his role as chief executive of global capital markets and investor services. Previously, he has previously held the positions of CEO and chairman of Cushman & Wakefield, and CEO of Exor, SA, the Italian holding company for the Agnelli family, which sold the company to TPG in 2015. President of Capital Markets and Investor Services Noble Carpenter and Executive Managing Director of International Capital Markets Janice Stanton will continue reporting to Sant'Albano.
As president the West Region, McDonald, who previously served as executive managing director and regional managing principal for Greater Los Angeles/Orange County, will lead all markets in Arizona, California, Colorado, Nevada, Oregon, Utah and Washington. McDonald began his real estate career in 1999 as executive assistant to John C. Cushman, III, who opened C&W's first Southern California offices in the 1960s.
Cushman also promoted Dan Broderick, who takes over a regional managing principal in Northern California after previously heading Cushman’s seven offices in San Diego County and Phoenix. Broderick's new markets include offices in San Francisco, Oakland, Walnut Creek, San Rafael, Sacramento, Burlingame, San Jose, Palo Alto, Pleasanton and Monterrey/Salinas. He previously served in leadership roles at BRE Commercial and Eastdil Secured.