The name change was announced jointly by Insignia Chairman & CEO Andrew L. Farkas and Insignia Douglas Elliman Chairman & CEO Alan J. Rogers. "The new name underlines Douglas Elliman's integral position within one of the world's largest and most dynamic real estate service organizations," Rogers told employees at today's meeting.

In addition to sharing its name, Insignia Douglas Elliman will increase its access to Insignia's real estate platform. Insignia's 27 international offices will serve as business-generating sources for the newly named firm's brokers, company officials say.

Locally, closer relationships with other New York City Insignia subsidiaries, including Insignia Residential Group and Insignia/ESG, are expected to coincide with the name change. A broker specialist program will be launched with Insignia Douglas Elliman brokers assigned to track market activity at the 300 apartment buildings managed by Insignia Residential. And a new program, Corporate Connect, will increase Insignia Douglas Elliman's opportunities to perform relocation services for Insignia/ESG corporate clients.