Second in Command

Inevitably in a CEO search process a discussion emerges with a board about promoting an internal candidate or recruiting a "step-up candidate" such as a chief operating officer. Typically the internal candidate is included in the search process, enabling a comprehensive and fair consideration of his or hers capabilities and ability to lead. Likewise an external candidate, such as a current chief operating officer at a company, would be viewed as a viable candidate having understudied for "X" number of years. However, as experience shows, the gap between No. 1 and No. 2 in a company is often bigger than many realize. CEOs not only perform different tasks from their second-in-commands -- who typically focus on running operations -- but they have to act differently, too. That means the two roles often demand very different personality traits. CEOs have been acclimated to the limelight, while longtime chief operating officers say they are used to working behind the scenes and submerging their egos. Their jobs focuses them inward on the company's problems, while CEOs spend much of their time convincing outsiders of the company's strengths. The very talents that make a great chief operating officer -- like finicky attention to detail -- can get in the way when you are in the top seat. CEOs are supposed to strategize, not micromanage. In order to address this underwriting issue, many companies are employing sophisticated assessment tools that gauge issues such as learning agility, thinking styles, and behavioral traits that can derail a new CEO, something the CEO and the board can ill afford.

Tony LoPinto is the Global Sector Leader of Korn/Ferry International's Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author's own.

GREYSTAR
Financial Analyst - Development
(IRVINE, CA) The analyst will be responsible for analyzing the acquisition, entitlement, construction, capitalization, and stabilization of ground-up mixed use multifamily development. The position will support negotiation decisions, support the development directors, conduct market research, analyze due diligence materials and prepare investment memorandum. A Bachelor's degree in finance, real estate, economics or related field along with one year of professional experience with a developer/investor or bank focused on multifamily investments is required.

CUSHMAN & WAKEFIELD
Managing Director, Central & North Florida
(ORLANDO) The position will oversee asset management, property management, project management for the Central & North Florida Region of the United States, defined as Tampa, Orlando and Jacksonville.. In this region, this position has bottom-line financial and operational responsibility for these services lines and will be responsible for overseeing the implementation of policies, procedures and programs that are responsive to the goals and objectives of C&W's major Investor clients.

REIT MANAGEMENT & RESEARCH LLC
Area Director
(BIRMINGHAM, AL) This position will manage operations and leasing of the Birmingham and Memphis portfolios, totaling approximately 3.6 million sf of downtown and suburban office and industrial assets owned by CommonWealth REIT (CWH), Senior Housing Properties Trust (SNH), and Government Properties Income Trust (GOV), publicly-traded real estate investment trusts. In addition, this position will lead the property management team, manage internal reporting, assist with leasing, and support the Vice President's execution and refinement of CWH, SNH and GOV investment strategy for this portfolio, including implementation of new processes and procedures for contracting, insurance certificates and other standards.

CIM GROUP
Associate Vice President, Investor Relations
(LOS ANGELES) The investor relations AVP will support both the investor relations and marketing teams. The position will be responsible for supporting existing and prospective investors and assisting with fund and co-investment marketing, structuring and closing, as well as working on new product development. In addition, the AVP will be responsible for managing multiple transactions and processes simultaneously, and will be tasked with managing a workload which includes both ongoing individual responsibilities and collaborative assignments alongside and/or as a support for others in the group.

UBS
Project Manager - Engineer
(HARTFORD) Duties include providing oversight and direction to outside third parties (architects, engineers, construction professionals) on large capital projects in support of asset management goals; engage in engineering and environmental due diligence activities while working with a network of UBS approved 3rd party firms; perform occasional on-site inspections of both existing assets as well as projects under construction; perform review of both consultant recommendations and the underlying contractor request for payments; negotiate construction and professional services contracts; develop policies, procedures and protocols aimed at providing superior advisory services to in-house clients; and perform evaluations of buildings systems, components, materials and construction methodologies as necessary to support achievement of real estate investment goals.

GRAMERCY PROPERTY TRUST, INC.
Vice President, Investment
(NEW YORK CITY) The position will serve as a VP of Investments on a team five to six investment professionals, including two associates, one to two analysts and one to two managing directors, including the group head; fulfill the Investments team's corporate mandate to deploy investable equity into low leverage, high quality, durable net lease cash flows; identify and screen new investment opportunities; pursue compelling deal leads by preparing preliminary underwriting analyses and coordinating with Seller and/or seller's agent(s); manage all aspects of the principal investing process, including negotiating and structuring deals, identify lenders and structuring financings, prepare full underwriting of the proposed transactions, and prepare an investment committee memorandum on each new deal; and coordinate the closing process for each new deal alongside the in-house closing department that will assist in each closing.

PIEDMONT OFFICE REALTY TRUST
Construction Manager
(WASHINGTON, DC) The construction manager provides construction management services to support the needs of the Mid-Atlantic Region and other regions for tenant improvement and capital projects as assigned. These services include, but are not limited to, directing and coordinating activities pertaining to the construction, renovation, and maintenance of assigned properties. Position will be responsible for on-time and on-budget completion of all assigned tenant improvement and capital projects; project management of assigned tenant improvement and capital projects; prepare job estimates and budgets for tenant build-out, capital items, construction, and design costs; assess project design and engineering for impacts to building operations, company sustainability goals, and project cost/schedule.

DDR
Facilities Manager
(NORTH OLMSTED, OH) The position will oversee and manage the day to day operations of properties including all phases of maintenance of the common areas to include buildings, grounds, and the direct supervision of outside contractors to ensure properties are properly maintained in accordance with company standards and maintenance agreements; identify property maintenance requirements of the common area, solicits and reviews bids from contractors and negotiates maintenance contracts; respond to tenant complaints and issues; and maintain professional and technical knowledge by attending educational workshops, reviewing professional publications and establishing personal networks.

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MARCUS & MILLICHAP
(MILWAUKEE) Marcus & Millichap Real Estate Investment Services has promoted Ray Giannini to first vice president investments. Most recently, Giannini held the title of vice president investments. BLANCA COMMERCIAL REAL ESTATE (MIAMI) Blanca Commercial Real Estate announces that it has promoted two members of the firm: Andres del Corral has been named vice president and Alexander Cahlin has been named associate vice president. Del Corral was previously an associate; Cahlin was a junior associate.

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WNC ASSOCIATES
(IRVINE, CA) WNC & Associates, Inc. (WNC), a national investor in real estate and community renewal initiatives, announced that Jeff LaRosa has joined the company as director, construction risk management. Prior to joining WNC, LaRosa spent seven years with Makar Properties, ultimately serving as vice president, development and construction.

AVISON YOUNG
(BOSTON) Michael Smith, Scott Jamieson and Brandon Dickason have joined Avison Young to further expand the firm's capital markets business in the New England region. All three members were most recently with Jones Lang LaSalle in Boston.

DERMODY PROPERTIES
(PHILADELPHIA) Dermody Properties has named 28-year industrial real estate veteran Eugene Preston as the Partner managing the firm's Eastern Region Office located in West Conshohocken, PA. He was most recently senior vice president in the Northeast Region, with Higgins Development Partners.

CASSIDY TURLEY
(WASHINGTON, DC) Cassidy Turley, announced that Carolyn J. Sidor has joined the firm as senior managing director, market development. Prior to joining Cassidy Turley, Sidor was with Colliers International from 2008-2012, most recently as president of operations, USA.

HFF
(PORTLAND, OR) HFF announced today that it has hired Nick Klein as an associate director in its Portland office. He will focus on multi-housing investment sales transactions in the Pacific Northwest. Prior to joining HFF, he worked as a multifamily broker at Hagerman Frick O'Brien LLC.

CARKLTON FIELDS
(ATLANTA) Carlton Fields is pleased to announce that two attorneys joined the firm's Atlanta office. Charles T. Sharbaugh, a shareholder, and Jason W. Howard, an associate, are members of the firm's real estate and finance practice group. Prior to joining Carlton Fields, Sharbaugh was a partner at Paul Hastings, where Howard was also a member of the firm.