DTZ pulls Shibuya away from Trammell Crow Co., where he was senior managing director of global brokerage. It's the second time Shibuya's fled a CB Richard Ellis owned entity. He left Insignia/ESG after it merged with CBRE earlier this decade, to join TCC.
Shibuya was unavailable for comment, but has already settled into his new digs at 1999 Avenue of the Stars in Century City. With DTZ, he will be responsible for the firm's expansion in the U.S., Canada and Mexico. Shibuya will also be involved with strategic planning, business development and oversight of the firm's operations.
Shibuya's reputation for developing national and global brokerage platforms precedes him. In earlier conversations with GlobeSt.com, he has emphasized retaining existing high-end talent, while remaining on the lookout for additional top producers. When bringing aboard an executive at TCC last year, Shibuya told GlobeSt.com that part of the strategy is to "build a best-in-class brokerage platform."
According to Shibuya, the brokerage business is changing, becoming more and more client-oriented. He has seen the brokerage business experience a massive overhaul in philosophy over the past 10 years. Back then, it was a first to the flag, productivity- and market share-driven industry. Now, it's about "a single point of contact" enabling brokers to build and hang onto long-term and repeat business.
Shibuya has overseen the success of that philosophy over a 20-plus-year career and will have ample opportunity to implement his ideas at DTZ, where the firm is undergoing a major expansion. Last May, the company was formed through the combination of New York-based Rockwood Realty Associates LLC and London-based DTZ holdings PLC. In the merger, Rockwood sold a 50% interest in the firm to DTZ for an initial consideration of $45 million plus an earn-out component. The further deferred payment is subject to an overall cap of $75 million.
Last fall, DTZ expanded to Atlanta and Dallas and also now has offices in Chicago, Miami, Orlando, Palm Beach Gardens and Mexico City. Upon forming the new entity last year, Rockwood's co-CEO/co-chairman Daniel McNulty told GlobeSt.com the merger, and subsequent expansion, is "all about proximity. We can be in front of the clients' needs for additional services (now). DTZ (already) has a great background in raising capital."
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