Dec. 16 (Bloomberg) -- Cushman & Wakefield Inc., the largest closely held commercial real estate services firm, hired Edward C. Forst, former chief administrative officer of Goldman Sachs Group Inc., as president and chief executive officer.
Forst, 53, will take over the positions from Carlo Barel di Sant’Albano, Cushman’s chairman, on Jan. 6, the New York-based company said in a statement today. Di Sant’Albano was interim president and CEO for five months.
Forst’s hiring “will further strengthen Cushman & Wakefield’s ability to capture the opportunities to accelerate the firm’s growth,” said John Elkann, chairman and CEO of Exor SpA, the brokerage’s parent company.
He will be Cushman’s fourth CEO in four years. Di Sant’Albano took the job temporarily after Glenn Rufrano left in June. Rufrano, former CEO of Australian shopping-center landlord Centro Properties Group, joined O’Connor Capital Partners as its chairman and CEO last month.
Forst was Goldman’s global co-head of investment management when he left in 2011 after 17 years there, interrupted by a 2008-2009 tenure as Harvard University’s executive vice president. He is a 1982 Harvard graduate.
After leaving Goldman, Forst was an adviser to investment firm Fenway Partners, Cushman said. In 2007, he served as chairman of the Securities Industry and Financial Markets Association.
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