NEW
YORK, Feb. 19, 2025 /PRNewswire/ -- Newmark
Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading
commercial real estate advisor and service provider to large
institutional investors, global corporations, and other owners and
occupiers, today announced that Chief Executive Officer
Barry M. Gosin will assume the
additional role of Chairman of its operating company, Newmark &
Company Real Estate, Inc.
Mr. Lutnick, who was confirmed today as the United States 41st Secretary of
Commerce, has stepped down from his Executive Chairman position and
the Company's Board of Directors.
"Barry is an exceptional leader who is deeply respected and
admired by employees and clients alike and has been a close friend
and strategic partner for more than a decade," said Howard Lutnick. "Together we have built one
of the greatest commercial real estate companies in the United States – from a privately held
company into a publicly held powerhouse that boasts an approximate
$3.7 billion market capitalization. I
have complete confidence in Barry's ability to lead the firm and
drive Newmark's continued global expansion."
Mr. Gosin is responsible for overseeing Newmark's strategic
direction and has been instrumental in guiding its dramatic
expansion. Serving as CEO since 1979, he spearheaded Newmark's sale
to Howard Lutnick's BGC Partners,
Inc. in 2011 and Newmark's IPO in 2017, as well as the Company's
spin-off from BGC in 2018. Since 2011, Newmark has been the fastest
growing commercial real estate services company and has increased
annual revenues by over 1,000 percent.1 Over the
past ten years, the Company has expanded its commercial and
multifamily origination market share approximately sixfold and
increased its investment sales share by more than two and a half
times.
"I am honored to take on this expanded role and look forward to
continuing to drive transformative growth and innovation across all
areas of our business, ensuring we remain at the forefront of our
industry," said Gosin. "Together with Newmark's talented
senior leadership team, we will deliver exceptional value to our
stakeholders."
Gosin is a member of the Executive Committee of the Board of
Directors for the Partnership of New York
City and a member of the Executive Committee of the Board of
Governors at the Real Estate Board of New
York. He is also a Trustee of Pace
University and was honored with the Leaders in Management
award. Additionally, he serves on the Board of Directors for
Fountain House, a non-profit organization that provides community,
employment and advocacy for people with serious mental illness in
New York City and the country.
In separate releases, Newmark today announced additional
Executive and Board changes. Please visit ir.nmrk.com.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK),
together with its subsidiaries ("Newmark"), is a world leader in
commercial real estate, seamlessly powering every phase of the
property life cycle. Newmark's comprehensive suite of services and
products is uniquely tailored to each client, from owners to
occupiers, investors to founders, and startups to blue-chip
companies. Combining the platform's global reach with market
intelligence in both established and emerging property markets,
Newmark provides superior service to clients across the industry
spectrum. For the twelve months ended December 31, 2024, Newmark generated revenues of
nearly $2.8 billion. As of
December 31, 2024, Newmark and our
business partners together operated from approximately 170 offices
with more than 8,000 professionals across four continents. To learn
more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements
about Newmark
Statements in this document regarding
Newmark that are not historical facts are "forward-looking
statements" that involve risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements. These include statements about the
Company's business, results, financial position, liquidity, and
outlook, which may constitute forward-looking statements and are
subject to the risk that the actual impact may differ, possibly
materially, from what is currently expected. Except as required by
law, Newmark undertakes no obligation to update any forward-looking
statements. For a discussion of additional risks and uncertainties,
which could cause actual results to differ from those contained in
the forward-looking statements, see Newmark's Securities and
Exchange Commission filings, including, but not limited to, the
risk factors and Special Note on Forward-Looking Information set
forth in these filings and any updates to such risk factors and
Special Note on Forward-Looking Information contained in subsequent
reports on Form 10-K, Form 10-Q or Form 8-K.
1 Note the following: (i) Revenue growth is
based on 2011 through 2023 total revenues, with the latter the most
recent year for which such data is available for all publicly
traded peers. These peers are U.S. tickers CBRE, CIGI, JLL, MMI,
and WD, (in USD) and UK ticker symbol SVS (in GBP). US ticker CWK
did not report revenues for periods before 2015 and is therefore
excluded. Newmark's 2011 revenues are based on unaudited revenues
for Newmark & Company Real Estate, Inc., which BGC acquired in
2011. (ii) Market share data compares 2015 (the first full year in
which Newmark had a GSE/FHA multifamily lending platform) to the
twelve months ended December 31,
2024. Investment sales market share is calculated by
dividing the Company's U.S. volumes by MSCI U.S. investment sales
volumes. Newmark's origination market share are the Company's total
debt volumes divided by overall MBA commercial/multifamily mortgage
origination volumes. For certain periods, MSCI loan data may be
modeled by Newmark Research in lieu of MBA data.
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