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Carlo Barel di Sant'Albano named interim CEO of Cushman & Wakefield

Cushman & Wakefield, the world's largest privately held commercial real estate services firm, has named Carlo Barel di Sant’Albano as the interim CEO replacing Glenn Rufrano. Mr. Sant’Albano will continue to serve as Chairman of the C&W’s Board of Directors and CEO of the EMEA operations in addition to taking on these additional responsibilities until a new CEO is appointed.

Mr. Rufrano has been CEO of the Company since early 2010 and will remain with the Company for a transitional period to assist the Board and the senior management team in ensuring a smooth transition.

John Elkann, Chairman and CEO of EXOR, C&W’s majority shareholder commented: “In recent years, Cushman & Wakefield has made great strides in reorganizing its business operations, and is now well positioned to capture the opportunities presented by a recovering market. Substantial investment has been made in the business over the last few years both to strengthen the teams and the infrastructure. We remain committed to supporting C&W’s growth, enabling it to achieve its full potential. With the leadership of Carlo and the senior management, we have the right team in place to accelerate on that path while we identify a new leader for this next chapter in the firm’s development. I wish to thank Glenn for his valuable contribution in stabilizing the company following the recession, providing a platform to launch this exciting new phase.”

Mr. Sant’Albano added: “Cushman & Wakefield has produced some great work over the past few years, including executing the world’s highest profile real estate transactions. Our employees have been at the heart of this success and I welcome this opportunity to help lead them into this next stage. I am confident that together we will continue to enhance and extend C&W’s leadership position in the commercial real estate services industry.”

Mr. Sant’Albano has been closely involved in the business activities of the company as a member of the Board of Directors of C&W since 2007 and as Chairman since March 2011. During this time he has been responsible for the strategic oversight and stewardship of the firm on a global basis. Mr. Sant’Albano joined C&W from EXOR, where he was instrumental in the acquisition of a majority stake in C&W in March 2007.

Mr. Sant’Albano previously had a 20-year career in investment banking, most recently with Credit Suisse. He is a graduate of Brown University and holds an MBA from Harvard Business School.