Newmark Launches Paris Office, Bolstering Global Expansion with Key Talent Additions
NEW YORK and PARIS, March 11, 2024 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces it has established a Paris, France flagship, hiring industry veterans Francois Blin and Emmanuel Frénot to lead the team. As the latest milestone in Newmark's continued global expansion, the Paris office, which officially opens today, March 11, 2024, will initially focus on Capital Markets and Leasing and is located at 32 Boulevard Haussmann 75009 Paris in the 9th arrondissement, home to some of Paris' most iconic landmarks, including the Opera Garnier and the famous Grands Magasins. Reinforcing Newmark's reputation for industry-leading talent, the launch of the Paris office has attracted several of Paris' top commercial real estate professionals to debut its market foothold:
- Francois Blin and Emmanuel Frénot join from JLL and CBRE as Chief Business Officer and Deputy Chief Business Officer, respectively, to lead the Paris team and to focus on Capital Markets.
- Antoine Salmon and Vianney d'Ersu, Co-Heads Retail Leasing, join from Knight Frank to spearhead Retail operations. Additionally, retail specialists Sarah Aghion, Alexandre Lechat, Louis Combet and Clara Leclerc will join to work alongside Salmon and d'Ersu.
- Jérôme De Laboulaye, Managing Director, joins from CBRE Capital Markets France to contribute to and build Newmark's Capital Markets Office practice.
- Nicolas Coutant will join from JLL to contribute to and assist in building various business lines.
- David Bourla, Head of Research, joins from Knight Frank to head all French research initiatives at Newmark, providing data-driven market insights and high-end economic analysis and surveys in support of clients and brokerage professionals.
- Alexandre Gotti, Newmark's President of France, will oversee operations, strategic direction, growth and recruiting, assisting in developing Newmark's footprint in France and Europe.
"Newmark continues to broaden its reach and evolve with the industry's demands and our clients' needs, and our expansion into France with the amalgamation of such an impressive team is a significant milestone in our growth strategy and presents yet another opportunity to generate outstanding results," said Chief Executive Officer Barry Gosin. "We look forward to continuing to grow our European footprint and attracting top talent across the globe as we further increase revenues across our diverse geographies and service lines."
Bringing more than a half-century of combined experience, these top hires will establish a robust and fully operational presence in the French market underpinned by market-leading research and Newmark's global services and reach across multiple sectors. Newmark expects the addition of this team to bolster its ability to provide best-in-class service to clients around the world who seek to diversify their investments by geography and property type.
"If you are exceptional, Newmark is where you belong. Our continued expansion in the European market is driven by our commitment to excellence for our clients. Our goal is to establish ourselves as the go-to market leader in France, built by industry market-makers," continued Gosin. "The Company is bridging the gap between major financial cities, uniting undeniable talent from major real estate markets around the world, including New York, Los Angeles, London, and now Paris. As we continue to onboard talented professionals in these and other locations, we have unwavering confidence in Newmark's future."
As a major European financial and economic center, Paris attracts a wide range of domestic and international businesses and investors seeking long-term value and stability. The city's strategic location, excellent infrastructure, diverse range of commercial real estate opportunities and strong connectivity make it an attractive destination for local, regional and global companies. France has consistently maintained its status as a prime real estate market, with a recent surge in demand for logistics and warehousing spaces, and in Paris, residential and office assets in prime locations. Overall, the market is expected to rebound as economic conditions gradually improve.
As the commercial real estate firm with the best long-term growth rate in the industryi, Newmark continues to invest in elevating its platform's capabilities and infrastructure, underpinned by the recruitment and retention of industry-leading talent across geographies and verticals within the real estate spectrum, strategic leadership appointments in leasing, capital markets and multifamily and entrances into new sectors throughout 2023. Additionally, with the recent hires of Matthew Featherstone and Jonathan Firestone to lead Debt and Structured Finance in the UK and US, respectively, Newmark continues to prioritize its unification strategy to build a comprehensive platform of owner/occupier services globally.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2023, Newmark generated revenues of approximately $2.5 billion. Newmark's company-owned offices, together with its business partners, operated from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
i Newmark generated faster revenue growth than any of its publicly traded competitors from 2011 to 2022, the last fiscal year for which data is available for the entire group. Newmark's 2011 revenues are based on unaudited full year 2011 revenues for Newmark & Company Real Estate, Inc., ("Newmark & Co.") while 2012 is based on the Real Estate Services segment of the Company's former parent, BGC Partners, Inc. ("BGC"), which acquired Newmark & Co. in 2011, IPOed the Company in 2017, and spun Newmark off in 2018. The peers included in the 2011-2022 average are US tickers CBRE, CIGI, JLL, MMI, and WD, and UK ticker symbol SVS (in GBP). These companies generated total revenue CAGRs of between 7% and 21% from 2011 through 2022, or a simple average of 15%. Only some of these peers reported fee revenues during this timeframe. In addition, US ticker CWK did not report revenues for periods before 2015 and is therefore excluded. For some years, the impact of FASB topic ASC 606 increased GAAP revenues for Newmark and certain peers.
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