Cushman & Wakefield has created two new UK leadership roles amid plans to accelerate growth in its alternatives business.
The firm has promoted head of residential Candice Matthews to UK chief operating officer, and partner Richard Pickering to UK chief strategy officer. Pickering will also join the executive committee as part of his promotion.
Matthews joined DTZ, which merged with Cushman in 2015, in 2006. She has been head of residential for five years and in 2016 was appointed international partner.
George Roberts, head of UK and Ireland at Cushman & Wakefield, said: “Our UK business is bigger and more complex, so it is the right time to add this COO role to drive our performance harder and make sure our UK platform works. We have got to move faster in a more uncertain world.”
Previously, Cushman only had an EMEA-wide COO, Ian Thomas, who will continue in his role.
Pickering has been at Cushman for 14 years, specialising in regeneration and development. He was appointed international partner in 2016, and shortly after he formed and led the firm’s futures team, which advises clients on major industry trends. This latest appointment will see him advise both clients and Cushman itself on opportunities and threats in the market.
Roberts said: “The chief strategy officer role will involve how we plan our business and where we choose to invest. We want to be more active in alternatives, such as student, healthcare and residential.”
Cushman’s intention to expand in alternatives comes after CBRE announced that it is to buy housebuilder Telford Homes last week for around £267.4m, amid plans to expand in UK build-to-rent. Roberts said Cushman planned to take a different approach to grow in the UK BTR sector.
“CBRE is increasing its exposure to BTR and doing that more aggressively,” he said. “We will grow our residential business as part of our wider alternatives expansion. But I don’t expect to go into development or housebuilding – we will retain an advisory role. We are more likely to grow organically rather than by acquisitions.”
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