Cushman & Wakefield was officially acquired by TPG-backed DTZ on September 1st, but the beginning of January seems to be the time when the merger led to some significant personnel changes for agencies in the region.
Colliers International announced seven new members of its valuation and advisory division today, all of them added from the former Cushman & Wakefield.
Vincent Cheung, formerly the head of valuation and advisory for Greater China and an executive director with C&W is now executive director of valuation and advisory for Asia with Colliers, where he will also take charge of the company’s valuation services for Hong Kong. Cheung will focus on business development and revenue growth for the newly expanded team under the direction of Asia valuation and advisory head – and long-time Colliers veteran – David Faulkner, according to a statement from the company.
The announcement by Colliers came the same week that competitor JLL unveiled its own set of acquisitions from C&W, adding director Kent Fong, along with other members of his team, to its Capital Markets division.
Colliers says that it expects the talent acquisition will help it to grow its depth and range of services, including offering new services such as business valuation.
“Vincent is a results-driven executive with significant experience in new markets expansion, especially in the Greater China region. He will play an integral role in our continued regional expansion, building valuable relationships and taking our business to the next level where our clients will benefit from our extensive valuation consultancy experience,” Faulkner noted in a statement.
Joining Cheung at Colliers are a number of his former C&W team-mates from Hong Kong and mainland China. Alton Wong formerly Cheung’s deputy at Cushman, joins Colliers as a senior director, focusing on strategic portfolio valuation for large enterprises and institutional investors. Wong will be joined in his work in Hong Kong by Simon Lee, who also comes over from Cushman & Wakefield.
Also joining in Hong Kong from C&W are Freddie Chan and Alfred Wong, who will lead the company’s new business valuation service.
On the mainland, Colliers added just two team members from Cushman & Wakefield’s former valuation and advisory team, with Karen Xu joining in Beijing and Kit Cheung coming on board in Shanghai.
While the two newly merged agencies are now known as Cushman & Wakefield globally, in China the company is branded as DTZ | Cushman & Wakefield, with the DTZ side steering the merger process.
Cheung’s former boss Simon Lynch, Cushman’s head of valuation and advisory for Asia Pacific, also left the agency in December to set up his own firm. A number of other senior executives in Asia have departed in recent months, including former China head Jonathan Davis, APAC marketing head Rachael Milford, and executive director of project management, Robert Jones.