Longtime Goldman Sachs executive Edward C. Forst will be the next president and CEO of Cushman & Wakefield Inc., the global brokerage firm announced Monday.
Forst, 53, will join the firm effective Jan. 6 as the latest step in a three-decade career in international asset management, capital markets and operational leadership, the company said in a news release. He replaces Carlo Barel di Sant’Albano, C&W’s chairman, who has served as interim chief executive for the past five months.
The New York-based company, one of the biggest names in commercial real estate services, has offices in East Rutherford, Edison and Morristown. Its majority shareholder is Exor, the investment giant run by Italy’s Agnelli family.
Forst most recently served as an advisor to Fenway Partners, a private investment firm, after his tenure as global co-head of Goldman’s investment management division, the news release said. He held several top positions in its New York and London offices, while also serving as a member of its management committee and as chief administrative officer.
In a prepared statement, EXOR Chairman and CEO John Elkann said the move “will further strengthen Cushman & Wakefield’s ability to capture the opportunities to accelerate the firm’s growth and capitalize on the substantial investment that has been made in the business over the last few years.”
“EXOR remains strongly committed to supporting Cushman & Wakefield’s development, enabling it to achieve its full potential in this exciting new phase,” he said.
Di Sant’Albano took over the post in June after then-CEO Glenn Rufrano stepped down.
C&W made news in New Jersey this month by naming Kimberly Brennan its market leader here. She had been the face of the firm’s Garden State operations since Gil Medina, its former executive managing director, joined competitor CBRE in late June.
The company made the announcement last week, as it did that longtime broker Bob Donnelly had been named an executive vice chairman. The 34-year C&W veteran, who has some of the most high-profile corporate clients in the state, was the first New Jersey broker and eighth employee worldwide to be given the title.