Marcus & Millichap Announces John Kerin’s Retirement, Appoints New CEO

President & CEO John Kerin will retire on March 31, to be succeeded by a certain other senior executive.

By Ioana Neamt

John Kerin of Marcus & Millichap
John Kerin of Marcus & Millichap

Calabasas, Calif.Marcus & Millichap is starting fresh this spring with a new president & chief executive officer. The national brokerage firm announced that John Kerin will retire as CEO and member of the company’s Board of Directors on March 31st, to be succeeded by Senior Executive Vice President Hessam Nadji.

John Kerin joined Marcus & Millichap as a sales agent in the Encino office back in 1981, and was promoted several times throughout the years, culminating with his appointment as president & CEO in 2010. Upon his retirement, Kerin will serve as senior advisor and provide consulting services for the company.

“It has been an honor and a privilege to lead Marcus & Millichap,” said Kerin in a prepared statement. “During my tenure we have accomplished a great deal and I am extremely proud of the progress we have made as a Company.”

Kerin’s successor, Hessam Nadji, joined Marcus & Millichap in 1996 as Vice President of Research, after serving ten years as National Director of Research and Information Services with Grubb & Ellis. He was appointed Chief Strategy Officer in 2013 and Senior Executive Vice President of the company in May 2015.

A graduate of Seattle’s City University, Hessam is also a member of the National Multifamily Housing Council executive committee, the Urban Land Institute, the International Council of Shopping Centers and NAIOP.

Hessam Nadji of Marcus & Millichap
Hessam Nadji of Marcus & Millichap

Nadji currently oversees the firm’s national specialty brokerage divisions, the mortgage brokerage division, and the research and advisory services divisions. According to Marcus & Millichap, these divisions closed $15 billion in sales in the nine-month period ending in September 2015.

“Hessam has been a key member of our team for over 20 years and his leadership as well as his management strengths make him a highly capable executive who has been ably groomed for his new responsibilities,” George Marcus, founder & co-chairman of the company, said in a statement. “He has been instrumental in developing our strategies and growth plans, particularly in expanding our specialty brokerage divisions and enhancing the MMI brand.”

Images courtesy of Marcus & Millichap