Marcus & Millichap Announces Senior Management Reorganization to Maximize Growth Opportunities
Marcus & Millichap (NYSE:MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today a management realignment to streamline decision making, execution and allocation of key executives to strategic growth initiatives.
Hessam Nadji, president and CEO, Marcus & Millichap, stated: "The company's brokerage operations will be consolidated under the position of chief operating officer, which will streamline key growth initiatives. At the same time, we are expanding responsibilities and market coverage for our most effective leaders, positioning them to focus on production and sales force productivity as the core drivers of their roles. The company is also placing more emphasis on client development, strategic investments and elevating its research services." These changes are effective immediately and include newly created roles and revised leadership positions that will accelerate the execution of growth-driven projects and client service initiatives.
J.D. Parker, chief operating officer of Marcus & Millichap's eastern division has been promoted to executive vice president, chief operating officer firmwide. In this expanded capacity, Parker will oversee all brokerage-related operations and work closely with Nadji to set the firm's strategic direction. "J.D. has held a variety of positions with the company over the past 20-plus years and will be instrumental in helping us make decisions and execute with more speed and consistency," said Nadji. Richard Matricaria, chief operating officer, western division, now serves as senior vice president, chief growth officer. Matricaria will be responsible for key growth initiatives, including expanding the firm's strategic partnerships and investments to grow revenue and enhancing the company's producer training and development programs.
The reorganization also includes expanded divisional leadership roles for the company's most effective management leaders. As such, Ryan Nee, Tim Speck, John Vorsheck, and Michael Glass, who are currently division managers, will be promoted to executive managing director, chief revenue officer for their respective divisions. They will oversee a consolidated group of operating divisions across the country.
Long-time senior executive Greg LaBerge, formerly chief administration officer, has been promoted to chief client officer. LaBerge will be responsible for organizing and synchronizing the company's specialty divisions, including branding, client outreach, and market penetration strategy by property segment. He will continue to lead the firm's hospitality division.
John Chang, formerly national director of research services, has been promoted to chief intelligence & analytics officer. In his new role, he will transition the company's industry-leading research and content into actionable market intelligence for investors.
"This initiative is a reflection of Marcus & Millichap's 53-year-long commitment to stay ahead of the curve in every cycle," stated Nadji. "The changes will sharpen our senior management team's focus more intensively on growth initiatives."
About Marcus & Millichap, Inc. (NYSE:MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 7,836 transactions with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.
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Gina Relva, VP of Public Relations
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