Cushman & Wakefield Unites Veteran Brokers

Less than a week after Cushman & Wakefield Inc. saw the exit of a team of high-profile office brokers, the global commercial real estate services firm has appointed former president & CEO Bruce Mosler to a major position. Mosler, who will now serve as chairman of global brokerage, joins with former Cushman CEO Arthur Mirante.

January 12, 2011
By Barbra Murray, Contributing Editor and Allison Landa, News Editor

Less than a week after Cushman & Wakefield Inc. saw the exit of a team of high-profile office brokers, the global commercial real estate services firm has appointed former president & CEO Bruce Mosler to a major position. Mosler, who will now serve as chairman of global brokerage, joins with former Cushman CEO Arthur Mirante to create what the company touts as a unique brokerage services team in New York.

Over the past nine months, Mosler and Mirante have inked more than 2 million square feet of office leases in the New York metro region. Mosler most recently served as co-chairman for Cushman, while Mirante served as president of global business development. The team also includes other veteran brokers including David Rosenbloom, an executive director who brings more than two decades of experience to the table.

Mosler told CPE that the position is new to Cushman. He said it will differ substantially from his most recent role at the firm. “As co-chairman of the board, my role was to help implement the business strategy of the firm,” he said. “My current role is 100 percent focused on building client relationships – there is not a management aspect to it.”

In his new role, Mosler will be focused exclusively on transactions, as opposed to running the company. He outlined his goals as developing an even greater collaboration amongst the best and brightest in the firm. “We want to take the ones with the most experience and tailor these groups to each individual client’s needs,” he added.

In 2008, Mosler told CPE that the company’s goal was not to be in every market around the world, but to exist in key markets where their clients do business. Today, he said, that is still the case.

“We espouse the theory that to be the best, you have to have the best client services and it can’t be based on developing to the largest size. We are, admittedly, not the largest; we are one of the top three brands,” he said. “But in terms of recognition, I trust we’re at the very top of the heap. We’re the best in the marketplaces we have and we’re in 60 countries. We do not aspire to be the biggest; we aspire to be the best. Our goal is to put the clients first and help them solve challenges. Bigger isn’t better; better is better.”

Mosler first joined Cushman in the early 1990s and served as president & CEO from 2005 to 2009. He was co-chair of the board from 2009 to year-end 2010. His new position became effective on Jan. 1, 2011.

According to Cushman CEO for the Americas Jim Underhill, Mosler and Mirante’s combined 30 years of experience at the helm of the company translates to client offerings of executive-level experience. He added that the firm expects to gain a major increase in market share as a result of the appointments as well as a dominant share long-term.

Last week, Cushman saw the departure of brokers Matthew Astrachan, Alexander Chudnoff, Paul Glickman, Mitchell Konsker and Mitti Liebersohn, all of whom came aboard with Mosler 14 years ago. A real estate executive with knowledge of the thinking behind the split told CPE that the brokers were seeking a special arrangement and didn’t get it. The executive did not expand on that statement. However, he did add that Cushman has a multi-pronged plan for its future and is moving in a more collaborative direction.