Shake-up season isn’t over at Compass.
Stan Richman, who joined the brokerage in late 2015 to oversee its West Coast expansion, is stepping down from that role, The Real Deal has learned.
Richman, who was seen as Compass’ most prominent West Coast hire, will no longer be regional vice president. He will instead work with Compass as a consultant and as a sales broker, according to a spokesperson for the firm.
Richman joined Compass in November 2015 from Coldwell Banker, where he managed that firm’s top-producing office nationwide in Beverly Hills North, with over 200 agents. In June, Compass hired Allison Yazdian over Richman as senior vice president and general manager for Southern California. Richman was reporting to her, and it’s unclear if the firm has lined up a replacement for him.
Compass, co-founded by Ori Allon and Robert Reffkin, has raised over $225 million in venture capital, most recently at a $1 billion valuation. In L.A., it made headlines by poaching top-shelf talent, and now has 13 offices in Southern California with over 300 agents. Late last month, the firm replaced its chief financial officer David Snider with Flywheel executive Craig Anderson.