Cushman & Wakefield is on somewhat of a poaching spree as the broker shakeup in Los Angeles continues.
In the latest round, rainmakers Henry Johnson and Mike Scimo have left CBRE to join Cushman & Wakefield as vice chairmen of global occupier services.
They will co-lead a Los Angeles-based platform focused exclusively on optimizing the global real estate and facilities portfolios of Fortune 500 companies.
They will be based in Cushman & Wakefield’s Los Angeles office.
Scimo was vice chairman of global corporate services at CBRE, and before that worked for 16 years with Trammell Crow Company. Johnson held the same title at CBRE, where he worked for nine years, after 20 years at Trammell Crow Company.
These hires, along with the recent poaching of Michael Condon and his team from JLL, show that Cushman & Wakefield is focused on building a corporate services group that is based in L.A. The fee-based revenue that comes from the work these brokers do, such as lease administration, portfolio management, and strategic planning can remain fruitful in a downturn, even when deal volume drops. A long-term strategy for a dip in the market are especially pertinent when an impending IPO is on the line.