Compass bringing in new COO: sources

Miami /
Jan.January 04, 2017 02:15 PM

From the New York website: Compass is making a little more room in the C-suite.

The venture capital-backed residential brokerage is finalizing a new hire for chief operating officer, sources told The Real Deal. David Snider, the Bain & Co. alumnus who has acted as Compass’ CFO and COO for the past year, will move into an exclusively CFO role to make room for the new hire, they said.

Compass is in late-stage negotiations with an executive, sources familiar with the company said, and is expected to make an announcement in the next few weeks. The hire will also take on some of the more traditional responsibilities of a CEO, they said.

The change was announced to some senior staff at the company several weeks ago. But several Compass agents approached by TRD said they had not yet been informed.

Representatives for the firm, which is headed by CEO Robert Reffkin and executive chairman Ori Allon, declined to comment.

In August, Compass raised $75 million in a Series D round that valued the brokerage at north of $1 billion, making it the residential brokerage world’s first unicorn. In total, Compass has raised $210 million from investors, including Wellington Capital Management, Institutional Venture Partners and Thrive Capital.

The 1,200-agent firm has been aggressively expanding in Los Angeles and San Francisco in recent months. In July, Reffkin told TRD that going public was not part of the company’s near-term game plan.

“The luxury of our capital base is that we can think long-term,” he said.


Related Articles

arrow_forward_ios
Forest Development's Peter Baytarian and Nautilus 220 (Palm Beach North Chamber of Commerce, Nautilus 220)
Two-tower condo project in Palm Beach County’s Lake Park launches sales
Two-tower condo project in Palm Beach County’s Lake Park launches sales
Lourdes Alatriste and Miguel Solis with a rendering of Quint Hollywood
Elliman takes over sales of Quint Hollywood, marking third change in a year
Elliman takes over sales of Quint Hollywood, marking third change in a year
Ruthie and Ethan Assouline lead Compass’ Assouline Team. (The Assouline Team, iStock)
Compass’ Assouline Team expands to Miami Beach
Compass’ Assouline Team expands to Miami Beach
Carl Gambino
Celebrity agent Carl Gambino expands to Miami
Celebrity agent Carl Gambino expands to Miami
From left: Developer Jesus Quintero, Chad Carroll, and the Quint Collection
Chad Carroll takes over sales of waterfront Hollywood townhomes
Chad Carroll takes over sales of waterfront Hollywood townhomes
Chad Carroll
Top-selling Douglas Elliman agent Chad Carroll joins Compass along with his team
Top-selling Douglas Elliman agent Chad Carroll joins Compass along with his team
Ivan Chorney and Michael Martirena
Movers & Shakers: Top One Sotheby’s team joins Compass, shakeup at CBRE & more
Movers & Shakers: Top One Sotheby’s team joins Compass, shakeup at CBRE & more
Ben Moss
Ben Moss to head Compass’ National Sports & Entertainment Division
Ben Moss to head Compass’ National Sports & Entertainment Division
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...