Say on Pay Over the past couple of days, there have been lead stories about the negative impact that the Federal government’s Pay Czar oversight has had on institutions that received bailout dollars over the past year. Among the most notable are Bank of America and AIG. At AIG, there was a ruckus created yesterday when five high-ranking executives–including the general counsel and the heads of some of AIG’s profitable insurance businesses–announced that they were prepared to quit if their compensation is cut significantly. Not only are they at odds over 2009 compensation, but they are worried that it’ll be worse in 2010 and that they will lose their golden parachute severance payments. On another front, Bank of America is soon to be lucky enough to repay its bailout dollars and get out from under the Pay Czar’s oversight. The bank has found it difficult to recruit executives while under the cloud of the Feds. These stories were not at all surprising. While one might argue that the government has every right to have a say on pay, the reality is that it will negatively impact the performance of the institution, and the repayment of its investment when the best talent leaves or, as in the case of Bank of America, can’t be attracted to work there.
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 | DEVELOPERS DIVERSIFIED REALTY General Manager (LONG BEACH, CA) The general manager will manage all facets of the daily operations of specialty center(s) through effective planning and utilization of resources to maximize net operating income and tenant and owner satisfaction. JKR PROPERTY HOLDINGS Senior Asset Manager (LOS ANGELES, CA) The senior asset manager will be responsible for the development of, and to achieve revenue, expense management, profit, and other financial goals while consistently providing customers, property supervisors and community residents. PRUDENTIAL Principal (PARSIPPANY, NJ) The principal will support portfolio management including tracking portfolio composition, attributing return, and conducting diversification and market targeting studies for private real estate; produce original research that supports the formation of investment strategy and new product development; and write research reports and other materials on the subject of real estate markets, investment strategy and portfolio management for international and external distribution, among other duties. DART REALTY (CAYMAN) LTD. Retail Leasing Manager (GRAND CAYMAN) The manager will be responsible for coordinating ongoing market research, tenant mix analysis and developing leasing action plans; proactively identifying and securing new tenant accounts at the local, regional and international level; act as fiduciary for the performance of the assets and be responsible for increasing asset values by strategically and proactively leasing the properties; among other duties. | USAA REAL ESTATE CO. Managing Director, Private Equity (SAN ANTONIO) The managing director will be responsible for initiating fundraising efforts making sure our company is well-positioned and branded. SELECTLEADERS Institutional Salesperson (DALLAS) The salesperson will be responsible for an ongoing review of research published by the firm to remain current on macro and micro economic trends, market studies and recommendations on specific securities; participation in daily conference calls with the research team to discuss market trends and new research, to remain current on the developments in the industry and to share information about specific clients; daily calls with clients to share research ideas; periodic personal visits with clients; attendance at industry events to represent the firm; and awillingness to travel five-to-eight days per month. COSTAR GROUP Real Estate Economist (BETHESDA, MD) The economist will be responsible for writing clear, concise, and insightful commentary that provide meaningful and actionable analysis for clients; communicate market intelligence and opinions to clients verbally; may give formal market presentations or prepare notes for strategists or senior economists to use in market presentations; and perform qualitative market research on specific metropolitan areas; among other duties. PITNEY BOWES Manager, International Real Estate (HARLOW, UNITED KINGDOM) The manager will be responsible for simultaneously managing multiple UK design and construction projects as well as assisting with acquisitions and dispositions for Pitney Bowes owned and leased facilities within the International region; 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. | UNIVERSITY OF ST. THOMAS, OPUS SCHOOL OF BUSINESS (ST. PAUL) The University of St. Thomas’ Opus School of Business is promoting Herb Tousley to director of St. Thomas’ real estate programs. MARCUS & MILLICHAP REAL ESTATE INVESTMENT SERVICES (HOUSTON) Marcus & Millichap Real Estate Investment Services is promoting Jerry Goldstein to the position of first vice president investments from vice president investments. | KBS CAPITAL MARKETS GROUP (NEWPORT BEACH, CA) KBS Capital Markets Group is promoting Mick Manning to executive VP and divisional sales manager from regional VP. |  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. | IRON HILL CONSTRUCTION MANAGEMENT CO., INC. (BETHLEHEM, PA) Iron Hill Construction Management is hiring David Calzone as a project manager. Calzone joins Iron Hill from Hunter Roberts Construction Group. | CENTRO PROPERTIES GROUP (NEW YORK CITY) Centro Properties Group is hiring Paul Sheppard as a senior leasing representative, west region. Previously, Sheppard was a leasing representative for the Abbey Co. | |
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