DTZ merged with Cushman & Wakefield

According to the statement from Cushman & Wakefield, the new Cushman & Wakefield draws on the best of both legacy organisations to create one of the world’s largest real estate services firms, with a combined total of $5 billion in revenue, 43,000 employees, more than 4.3 billion square feet under management, and $191 billion in transaction value.

In Asia Pacific, the firm now has more than 7,000 people operating in 21 offices, across 11 countries including Australia, Singapore, India, Japan, and New Zealand.

Cushman & Wakefield will be led by chairman and chief executive officer Brett White, and global president Tod Lickerman.

“Both legacy firms had been aggressively growing their respective platforms and deepening their reach into the market with new acquisitions and talent. Now we have the opportunity to see these ambitions come together – capturing the momentum in the market and clearly claiming our position at the top of the industry,” White said.

President Lickerman said, “The completion of the merger is a historic leap forward, but it isn’t the end of our journey. Today is an important milestone that propels us into a future rich with opportunity for our clients, our people, and our company.”

Cushman & Wakefield now operates in more than 60 countries around the world and is well-positioned in every major market for continued growth. The new Cushman & Wakefield is a top-tier global commercial real estate service provider in every service line and every major geography in the world. With a tenacious, entrepreneurial and client-centric culture of highly skilled people behind both firms, the new company will be able to tap into greater resources worldwide to ultimately deliver superior results for clients.