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Two top Compass execs left the brokerage in the past month
The firm’s chief people officer and general counsel have left their roles
Compass’ general counsel and chief people officer have both left their roles at the brokerage in the last month.
David Carp, who was general counsel and deputy chief operating officer, continues to work with the firm on a part-time basis, according to a Compass spokesperson. He joined the company in 2015. Timothea Letson and Iris Lichtman are serving as interim co-general counsel.
Madan Nagaldinne, who joined the Compass in August 2017 as chief people officer, also left Compass — and will be heading to a consumer health care startup. Nagaldinne was hired replicate the massive recruitment and expansion he previously oversaw at Facebook and Google. In the position, which reported to Robert Reffkin and COO Maelle Gavet, Nagaldinne was responsible for human resources strategy, including recruitment, compensation, performance management and education.
Prior to Compass, Nagaldinne worked at Outcome Health, a $5 billion health care technology company. He also worked as the head of HR for Facebook’s global sales team, New York office and Asia Pacific region. Before that, he managed a 100-person HR team at Amazon.
Himanshu Kalra will serve as interim chief people officer, a Compass spokesperson said. Kalra joined Compass from Blackstone Group in February. Prior to Blackstone, he’s held HR management roles at investment management firm Pimco and Citigroup.
Carp and Nagaldinne didn’t respond to requests for comment.
The executive shakeup comes as Compass has decided to hit the brakes on its nationwide expansion this year. After an acquisition spree last year, the brokerage has said it won’t enter any new markets in 2019. The firm will instead focus on hiring and growth in its current markets, according to a previous report. The decision came after hitting roadblocks — like subpar office space, not having the right managers and under-supported marketing — in some of its new markets.
This week, Compass made a splash in New York with its deal to acquire Stribling & Associates. Terms of the sale weren’t disclosed, but the move gives the brokerage a stable of high-end co-op brokers as well as new development heavyweights.