According to a statement released by the company Wednesday, Jacque Ducharme, Studley's president, "will increase his presence in California by assuming the role of West Coast regional manager." Studley has 15 offices across the US, including four in California—Downtown LA, West LA, Orange County and San Francisco.
Howard Sadowsky, who established Studley's offices in California 30 years ago, will continue to act as vice chairman and director for the firm. But as reported by GlobeSt.com yesterday, the company says that Sadowsky will increase "his focus on the company's leasing and investment sales activity in California."
However, Bruce E. Schuman will continue his role as senior vice president and branch manager responsible for Southern California operations.
In other moves, the company-issued statement says that Seth Dudley, executive vice president and member of the board of directors, will serve as branch manager of the brokerage firm's West Los Angeles office. Dudley was previously co-branch manager of the office.
Mark T. Sullivan, executive vice president, will become branch manager for Studley's Downtown LA office. Sullivan was previously co-branch manager of Studley's West Los Angeles office. Royce Sharf, corporate vice president, will continue to act as branch manager of Studley's Orange County office.
The announcement is the latest in a string of organizational moves launched by different brokerage firms, prompted in part by an effort to streamline their operations and improve profitability as the commercial real estate business slows.
Cushman & Wakefield recently made several changes in its California structure to accommodate its acquisition of LA-based Cushman Realty, while Chicago-based Grubb & Ellis announced plans to eventually put its regional managing directors across the US in charge of all business in their particular territories instead of focusing on only one or two business lines.
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