Executive Watch

Perspective

Thanks to the Securities & Exchange Commission, we have a new twist on the open kimono. Next month, the SEC is instituting new proxy-disclosure rules that will increase significantly the amount of upper-echelon compensation information public companies will be required to provide. In addition to a bundle of new disclosures, companies will also have to give extensive information related to the who, why and what of pay decisions. The new regs are rattling REIT and other public real estate company executives who clearly earned it but will now have to justify it. Even more interesting is the probable introduction of new disclosures that will encompass other highly compensated employees who have “supervisory” responsibilities and whose pay is at least as high as the top-compensated execs. It appears that these disclosures will easily cover development, leasing and senior investment officers. This is going to provide for some interesting proxy reading next spring, and I don’t expect the SEC to stop at this round of expanded disclosure.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.

Job Opportunities

TRAMMELL CROW CO.
(IRVING, TX) Controller The hire will be responsible to direct all phases of accounting; review and revise established accounting policies and procedures; research and analyze complex accounting issues; and perform all tasks necessary for the management of a financial reporting team in support of large and/or national portfolios.

JONES LANG LASALLE
(POMONA, CA) Vice President, Retail Transactions The hire will report to the retail program manager, manage a network of third party brokers to assist in site selection, negotiating leases, real estate portfolio management, financial analysis, and manage a geographic retail portfolio.

SELECTLEADERS
(NEW YORK CITY) Commercial Real Estate Underwriter The commercial real estate underwriter will be responsible for all aspects of the due diligence/underwriting process for commercial properties to include retail, office, industrial, hotels, multifamily, mobile home parks and self-storage facilities for both debt and equity investments.

EARTHLINK
(ATLANTA)Director, Corporate Services The position within Real Estate & Corporate Services is responsible for leading the function that delivers enterprise-wide facilities, office, and administrative services along with real estate operations.

HAMMES COMPANY LLC
(ATLANTA; WASHINGTON, DC; PHILADELPHIA; BOSTON) Regional Director of Development, East Region Certain members of the company’s current healthcare real estate personnel will either directly or indirectly report to the candidate as it relates to project executive assistance, pre-opening leasing activities, public approvals processing, and design/construction oversight.

FANNIE MAE
(RESTON, VA) Real Estate Senior Project Manager The hire receives assignments in the form of objectives and determines how to use resources to meet schedules and goals. That person also provides guidance to subordinates and service providers, and recommends changes to policies and establishes procedures that affect immediate organization(s).

MERIDIAN CAPITAL
(BETHESDA, MD) Senior Underwriter The underwriter will be responsible for estate transactions on both the debt and equity side from initial review through closing, including: performing initial sizing and packaging of loan requests, submission to lenders, and overseeing the underwriting/closing process.

Promotions

STREAM REALTY PARTNERS
(DALLAS) Jon Altschuler is named president after five years with the firm. The 12-year executive previously was managing director.

SYNDICATED EQUITIES CORP.
(WASHINGTON, DC) Matt McCulloch becomes partner of investment strategy and acquisitions for the new office. He previously worked in the Chicago headquarters office, which got a new hire, Rajen Shastri, acquisitions associate for the tenancy-in-common program.

DAVIDSON HOTEL CO.
(MEMPHIS) Mark Herron is named general manager of the Embassy Suites in Pittsburgh while Nanci A. Haley takes over the Embassy Suites Cleveland Beachwood Hotel. John C. Karchner, will oversee the Hyatt Regency Newport in Rhode Island.

WYNDHAM HOTELS & RESORTS
(PARSIPPANY, NJ) Faith Taylor becomes vice president of innovation and product development. She joined the firm in January 2003 as a senior director.

LEGGAT MCCALL PROPERTIES
(BOSTON) Jean Kelley becomes vice president and controller after five years with the firm.

INTEGRA REALTY RESOURCES
(COLUMBUS, OH) Bruce A. Daubner rises to partner and managing director to oversee the lodging and multifamily practices. He previously was principal in Integra's Pittsburgh office.

New Hires

CUSHMAN & WAKEFILED
(McLEAN, VA) Brian Gill starts as associate director for the Mid-Atlantic region, specializing in apartment brokerage services and sales. He most recently was with Bonaventure Realty Group in Arlington, VA.

FIRST INDUSTRIAL REALTY TRUST
(CHICAGO) Keith S. Stauber comes on board as senior regional director for the Chicago region. Stauber previously was senior vice president of the industrial group for Colliers Bennett & Kahnweiler.

GRUBB & ELLIS
(NEW YORK CITY) Frank Mancini joins as executive managing director for New York investor services and Peter Auerbach as director of financial analysis in the same office. Mancini previously was principal and head of asset management for Normandy Real Estate Partners. Auerbach most recently was an analyst for the private funds group of Credit Suisse.

BINSWANGER
(PHOENIX) Charles S. Pawlak starts as vice president and managing director of the technology group. Pawlak, who is based in Phoenix, was the former director of corporate real estate and site development for Intel Corp.

PRUDENTIAL ASSET RESOURCES
(NEWARK, NJ) Joe E. Greenhaw Jr. joins as vice president and head of the asset management unit. The veteran spent the past 15 years at Midland Loan Services, rising to executive vice president.

BLACKSTONE GROUP
(NEW YORK CITY) David McVeigh is accorded an executive director's title for the private equity group. He previously was a partner at McKinsey & Co. and leader of its North American chemicals and Northeast energy and materials practices.

HIGHLAND DEVELOPMENT
(PASADENA, CA) David Rose is hired as site acquisitions director for the Marcus & Millichap subsidiary after working as development partner for Arizona Partners LLC in Scottsdale, AZ.

CASSIDY & PINKARD COLLIERS
(WASHINGTON, DC) Neil Narcisenfeld will be a senior vice president in the Tysons Corner, VA office.

J. BEARD REAL ESTATE CO.
(THE WOODLANDS, TX) John A. Ernst comes on board as principal to manage retail property portfolios and Herb Jackson joins as an executive in the office and industrial division. Ernst previously was senior manage of real estate for Landry's Restaurants and Jackson was president of Jackson Commercial since 1996.

JONES LANG LASALLE
(PARSIPPANY, NJ) Scott Hoffman comes on board as senior project manager in the Northeast. He recently was a project architect for the engineering department of the Port Authority of New York and New Jersey.

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Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.