Cushman & Wakefield names Sanjay Verma CEO, Asia Pacific
2 Feb, 2010, Sydney
Cushman & Wakefield's Global Board of Directors announced today that Sanjay Verma has been named Chief Executive Officer, Asia Pacific of the firm, effective January 1, 2010. Sanjay will succeed CEO, Asia Pacific Michael W.J. Thompson.
Sanjay Verma was Executive Managing Director of South Asia before taking on this new role. He is also one of the founding members of Cushman & Wakefield India and as its Managing Director spearheaded the significant growth of the Indian operations, while delivering high profitability and increasing its market share.
Sanjay is the first Asian to be a regional CEO of a major global real estate consultancy firm. In his new assignment, Sanjay will be responsible for managing and augmenting Cushman & Wakefield's regional business, assessing expansion opportunities by way of both organic and acquisitions led growth, increasing the company's market share and enhancing service delivery capabilities. Further, he will join the Asia Management Board and will be based at C&W’s Asia Pacific Headquarters in Shanghai, China.
Cushman & Wakefield India operation will continue under the leadership of Anurag Mathur, Managing Director, India.
"There are tremendous opportunities in Asia," said John Santora, Chairman of Cushman & Wakefield’s Asia-Pacific Board. "Sanjay’s wealth of experience and proven leadership will allow us to accelerate the growth of our business in this critical region. He will build on his experience and success to grow market share and brand awareness throughout Asia."
Sanjay Verma, CEO, Asia Pacific, said, "This is an exciting opportunity for me and I am proud to have the chance to lead the company to the next level of success in the fastest growing region in the world. We have a great pool of talent across Asia and I look forward to working with the Asia management team to maximize the synergies we see across the region to create even greater value for our clients and employees."
"Sanjay’s appointment will further strengthen our regional operations as part of the global firm" stated Bruce Mosler, Chairman of the Cushman & Wakefield’s Global board. “It will help us capitalize our market-leading brand position and global expansion opportunities that will drive future growth in this extremely important region."
Commenting on the move, Michael Thompson said "The past 8 years have been a tremendously rewarding experience for me, but it's now the right time for me to pass the baton to my long term colleague, Sanjay Verma.
Thompson continues: "I am very confident that Sanjay will take Cushman & Wakefield to new heights as the firm continues its expansion plans across the region. I selected Sanjay as my successor several years ago and together we'll be working closely in the next few months to ensure a seamless transition".
An engineering graduate and a Masters in Business Administration (finance), with over fourteen years in the real estate services sector in management roles in Asia and India, 38 years old Sanjay has played an important role in increasing Cushman & Wakefield’s market share within the region. He has been responsible for assessing expansion opportunities in other emerging markets; thereby enabling integrated service reach and widened delivery to clients.
Michael Thompson, a 13 year veteran of Cushman & Wakefield has been the firm's Chief Executive Officer, Asia Pacific for the past 8 years. During this time, Cushman & Wakefield has grown rapidly in both breadth and depth, with revenues expanding 10 fold, both through organic expansion and strategic acquisitions.