Cushman & Wakefield Inc, the world’s biggest closely held commercial-property broker, named Glenn Rufrano as its president and chief executive officer.
Mr Rufrano, 60, is the CEO of Centro Properties Group, Australia’s second-biggest retail real estate investment trust. He will join Cushman on March 22, according to a statement by the New York-based company. Cushman has been searching for someone to fill the position since October, when it announced plans to make Bruce Mosler, who holds both posts, co-chairman alongside John C Cushman III. Mr Rufrano has been Centro’s CEO since 2008.
Centro was the biggest overseas buyer of US property from 2005 to 2007, a strategy that backfired when credit dried up and property prices tumbled. The owner of more than 600 US malls agreed with creditors to restructure assets on Dec 24.
Mr Rufrano was CEO of New Plan Excel Realty Trust Inc from 2000 to 2007, the year that it was acquired by Centro. He also co-founded O’Connor Capital Partners, worked for five years at Landauer Associates Inc and serves on the board of General Growth Properties Inc.
He is a graduate of New Jersey’s Rutgers University, and has a master’s degree in real estate from Florida International University, according to Cushman’s statement.
Source : Business Times – 4 Feb 2010
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