Marcus & Millichap Names Chief Operating Officers for Western and Eastern Divisions

Rhea-AI Summary

Marcus & Millichap (NYSE: MMI) has promoted Richard Matricaria to COO of the Western Division and J.D. Parker to COO of the Eastern Division, enhancing leadership capabilities to support the company's growth strategy. Matricaria, with a history at the firm since 2000, effectively grew the Midwest division by 30%, while Parker, who joined in 2004, has been pivotal in expanding the firm into Canada. These promotions reflect a commitment to driving strategic initiatives, including financing division expansion and improving brokerage support systems.

Positive

• Leadership promotions of Matricaria and Parker enhance strategic execution.
• Matricaria's leadership resulted in a 30% growth in the Midwest division.
• Parker successfully drove expansion efforts into Canada.

Negative

• None.

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced that Richard Matricaria and J.D. Parker have been promoted to COO Western Division and COO Eastern Division, respectively. In April 2019, they were named executive vice presidents of the operating company, responsible for overseeing the company’s division managers and specialty directors as part of the leadership succession plan.

Richard Matricaria, COO Western Division, Marcus & Millichap (Photo: Business Wire)

“The vision behind this dual leadership structure is to execute the company’s growth plan more efficiently with expanded leadership bandwidth and the complementary skills of two highly talented executives,” said Hessam Nadji, president and CEO. “This has manifested in successfully driving strategic initiatives such as the expansion of our financing division, Marcus & Millichap Capital Corporation, executing our acquisition plan and bringing new talent to the platform. At the same time, J.D. and Richard have brought direct field input and effectively partnered with our corporate services executives in the advancement of our brokerage support systems, technology, training, and marketing,” Nadji added.

Parker joined the firm in 2004 as a multifamily agent in the Manhattan office and transitioned to management in 2006. In 2007, he opened the company’s Brooklyn office and soon after took over responsibility for the New York regional offices, leading Manhattan to become the firm’s largest operation. He was appointed Division Manager for the Northeast in 2016 and has been instrumental in driving Marcus & Millichap’s expansion in Canada.

Matricaria joined the company in 2000 and was a successful retail broker for several years before moving to management. He built highly successful offices in Orlando and Tampa, the latter of which became a top performing office nationally. In 2016 he moved to Chicago to oversee the Midwest division, which grew by 30% under his supervision. He relocated to company headquarters in Calabasas in 2019 as part of his expanded responsibilities.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals throughout the United States and Canada, Marcus & Millichap is a leading commercial real estate firm specializing in sales, financing, research, and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210623005965/en/

FAQ

What are the recent promotions at Marcus & Millichap (MMI)?

Richard Matricaria has been promoted to COO of the Western Division, and J.D. Parker to COO of the Eastern Division.

How has Matricaria contributed to Marcus & Millichap (MMI)?

Matricaria helped grow the Midwest division by 30% and has a long tenure with the firm since 2000.

What strategic initiatives are being pursued by Marcus & Millichap (MMI)?

The company is focusing on expanding its financing division and enhancing brokerage support systems.

When were Matricaria and Parker named executive vice presidents at Marcus & Millichap (MMI)?

They were named executive vice presidents in April 2019.