The CEO of Colliers International‘s real estate services division has been fired for misconduct related to improper trading, the company said Friday.
Dylan Taylor had been with the commercial brokerage for 10 years, and was promoted to lead the division just six months ago.
He was fired over allegations he conducted “improper trading activity in Colliers securities in breach of his employment obligations,” the company announced.
In response, Taylor brought forward allegations of his own, which he claimed formed the basis for a potential constructive dismissal claim. The company said it had “no reason to believe the validity of such claims” but would appoint a special committee to look into the claims.
Colliers has eliminated the position of CEO of real estate services altogether. Going forward, Jay Hennick, the chairman and CEO, will oversee will oversee operations, with support from CFO John Friedrichsen.
Taylor had been with Colliers International since July 2009, following stints at JLL and Newmark Knight Frank.
In January, Colliers announced that veteran brokers David Amsterdam and David Kotansky were tapped to lead the firm’s new U.S. capital markets platform. — Sylvia Varnham O’Regan