The Czar The front page of this week’s New York Times Sunday Business Section reported that a recent study found that the changes made in pay practices by 191 of the nation’s largest companies indicated, instead of finding a greater reliance on long-term incentive programs as a percentage of total compensation, most of these companies are making short-term incentive pay a bigger part of the compensation pie. Not terribly surprising, since long-term compensation in the form of restricted stock grants and fund promotes has become skimpy to worthless. However, this shift will not encourage long-term thinking and planning. There is going to be a lot to sort out on the compensation front as the recovery emerges over the next couple of years. Of course, at the same time, we have the “Pay Czar” with loaded guns, hunting to establish “appropriate” levels of compensation for the institutions now within his domain. If I were in his sights, I would duck.
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. WEBINAR ON-DEMAND Job Opportunities in a Turbulent Market In today’s real estate marketplace, finding and keeping meaningful employment – whether you are a manager, developer, investor, broker, or architect – is a difficult and constant challenge. GlobeSt.com and the SelectLeaders Job Network are pleased to present this important online event to identify key job growth areas, the types of positions that are in demand, and approaches necessary to flourish in this downturn. Recorded on Tuesday, June 9, 2009, 12:30 PM ET. Cost: $59.VIEW ON-DEMAND NOW >
 Job Opportunities | WHOLE FOOD MARKET Lease Administrator CAM Analyst (AUSTIN, TX) The analyst will direct the company’s Common Area Maintenance (CAM) reconciliation and other related lease administration functions. MCCORD DEVELOPMENT Chief Financial Officer (HOUSTON) The CFO’s responsibilities will include evaluating and advising president and EVP on strategic growth initiatives with emphasis on real-estate management and investment funds development, preparation, reporting and analysis of financial statements, and the management of a financial and administrative team including accounting, administration, information technology, and human resources. ARBOR COMMERCIAL MORTGAGE Director (UNIONDALE, NY) The director will focus on multifamily loan origination on loan amounts of $1 million and be responsible for generating this business through existing relationships and business development opportunities. COSTAR GROUP Commercial Real Estate Research Manager (BETHESDA, MD) The research manager will be responsible for supervising and coaching a team of eight to 10 research associates working on either portfolio or specialty commercial real estate research, the research manager takes ownership of their team’s performance, results, and budget with a constant focus on growing and maintaining the highest quality database. BANK OF MONTREAL FINANCIAL GROUP OF COMPANIES Senior Manager, Retail Portfolio (MONTREAL, QUEBEC) The senior manager will grow and maintain the retail distribution network through development and implementation of a retail distribution strategy and plan; cost effectively develop, manage and maintain BMO’s owned retail property portfolio; and maintain relationships with key senior P & C business partners as the CRE-retail key point of contact and relationship manager; among other duties. | CENTRO PROPERTIES GROUP Vice President Investment Management (NEW YORK CITY) The VP will be responsible for all the reporting requirements to Australian Fund Managers; provide leadership to the investment analysts on individual expectations, responsibilities, reporting requirements and the internal standards for performance; reforecast and undertake cash flow analysis of the individual REITs on a quarterly basis including the recommendation of distributions and cash flow requirements; among other responsibilities. JONES LANG LASALLE Vice President (NEW YORK CITY) The VP will develop complex corporate real estate strategies supported by demographic and financial analyses to provide, communicate and implement creative approaches that will allow our client’s to optimize their real estate solutions; proactively manage execution of client engagements to ensure excellence, consistency and profitability; and support strategic consulting knowledge management by assisting in the development of project process, tools, and client deliverables that will be included in best practices; among other duties. SELECTLEADERS Real Estate Valuation Associate (Appraisal) (LOS ANGELES) The valuation associate will be to assist the firm’s valuation officer with the on going valuation of portfolio assets within it’s real-estate funds. These assets include but are not limited to hotels, retail, industrial, commercial and land and coordinate the quarterly valuation process of all real estate funds investments with deal teams and create and update the valuation models; among other duties. |  Promotions No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch. | CB RICHARD ELLIS (RICHMOND, VA) CBRE is promoting Lewis Stoneburner, Jr. to senior associate. | VOIT REAL ESTATE SERVICES (NEWPORT BEACH, CA) Voit Real Estate Services is promoting Debra Milby executive business operations manager for Voit Real Estate Services’ commercial brokerage division. |  New Hires No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch. | AVISON YOUNG (TORONTO) Avison Young is hiring Earl E. Webb as president, US operations. Webb was previously CEO of Jones Lang LaSalle’s capital markets group in the Americas. CB RICHARD ELLIS (NORFOLK, VA) CBRE is hiring Susan Fulton and Kim Krause to the asset services team. Fulton will be a senior real estate manager and Krause will be an assistant real estate manager. Both come to CBRE from GVA Advantis’ office properties division. DIVARIS REAL ESTATE INC. (RICHMOND, VA) Divaris is hiring John Madures as a leasing and sales associate. | GRUBB & ELLIS CO. (WASHINGTON, DC) Grubb & Ellis Co. is hiring Roy Hill as associate vice president, private capital markets. Hill will focus on retail, office and multifamily investment properties throughout the Washington, DC-metropolitan area. Hill joins Grubb & Ellis from Marcus & Millichap Real Estate Investment Services, where he was a senior associate in the firm’s national retail group. PIEDMONT CAPITAL FUNDING (OAKLAND, CA) Piedmont Capital Funding is hiring Jennifer Yu as a commercial loan processor. Prior to taking this position, Jennifer was a commercial credit analyst at Stanford Federal Credit Union. | |
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