Merged entity to be one of the world's largest real estate consultancies.
Cushman & Wakefield (C&W) and DTZ have reached an agreement to merge and are set to become one of the largest global real estate services companies.
Operating under the C&W name, the new company will have revenues of over $5.5 billion and more than 43,000 employees. It will also manage more than 4 billion square feet globally on behalf of institutional, corporate, and private clients.
The expanded full-service offering will provide a unique combination of a deep, local market presence and significant scale in core services in major global markets.
“DTZ is elated to be merging under the prominent C&W brand,” said Mr. Brett White, who will assume the role of Chairman and Chief Executive Officer of the merged company. “The companies have remarkably complementary skills and reach in different geographies, whether in New York, London or Shanghai, and will be a formidable combination.”
The new entity will be a top-tier global commercial real estate services provider in every service line and every major location in the world. It will be able to tap into greater resources worldwide to ultimately deliver superior results to clients.
C&W advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 259 offices in 60 countries worldwide, including Vietnam, and employs more than 16,000 professionals.
DTZ is a global leader in commercial real estate services, serving occupiers, tenants and investors around the world. It has more than 26,000 employees in over 260 offices in 50 countries.