Paul Bacon becomes CEO of Cushman & Wakefield EMEA
1 Jan, 2007, London
Paul Bacon officially became Chief Executive Officer of Cushman & Wakefield EMEA operations on 1 January 2007, commencing a new era of leadership in the region for the world's pre-eminent global real estate services consultant. Paul Bacon was previously Deputy Senior Partner of C&W in EMEA and succeeds the CEO of C&W EMEA, John Travers who led the firm in the region for seven years.
Mr. Bacon will lead the firm's EMEA operations which extend to 1,700 employees in 33 countries. Paul will be one of three regional CEOs reporting to Chief Operating Officer of Cushman & Wakefield, John C. Santora. Cushman & Wakefield's other regional CEOs are Tony Marano for the Americas and Michael Thompson for Asia.
Mr. Bacon joined the firm in 1984 and started his career in London specialising in the UK office and industrial sector. In 1990, he transferred to Milan where he established the firm's Italian operations which now total 100 people in three offices in Milan, Rome and Bologna. During his career he has been actively involved in overseeing the expansion of the firm's highly successful Central and Eastern European operations as well as the firm's entry into the Russian market in 2004.
Mr. Bacon is a member of Cushman & Wakefield's International Board of Management. He has specific responsibility for, and chairs the Boards of the Czech Republic, Hungary, Poland, Russia and Italy. He is a Capital Markets specialist, and as lead European partner of Cushman & Wakefield's Global Capital Markets Group, has led the firm's rapidly growing 250-strong pan-European Capital Markets team which last year transacted deals totalling in excess of €14.5 billion.
"Paul Bacon has been at the forefront of C&W's expansion in a region where we continue to identify opportunities for our rapid growth," said Bruce E. Mosler, President & Chief Executive Officer of Cushman & Wakefield. "Paul has also helped shape our successful Capital Markets presence in Europe, and he will remain extraordinarily effective as we continue to integrate our global platform."
In February 2005, the firm reported a record turnover for EMEA in 2005 of £164 million (an increase of 28% on 2004) with profits rising by 61%. Cushman & Wakefield's EMEA operations accounted for 23% of the firm's global revenues which increased by 21% to $1.2 billion in 2005 (2004: $1 billion). All 23 of Cushman & Wakefield’s offices throughout Europe, which are a single partnership, were profitable in 2005. 2006 Revenues will be announced in late Jan/early Feb 2007.