DTZ Appoints New Managing Director In New Zealand

DTZ Appoints New Managing Director In New Zealand

Leading global property adviser DTZ has announced the appointment of Colin West as the new Managing Director of its New Zealand operations.

The appointment follows the decision of DTZ's current New Zealand Managing Director, Ross Pickett, to retire from DTZ in early 2008.

"Since joining what was then DTZ Darroch in mid 2001, Ross has had a pivotal role in leading the company's transition from a small successful valuation firm to a significant multi-disciplinary player in the wider commercial property market," said Murray Ellis, Chairman of DTZ's New Zealand operation.

Colin West will initially assume the role of Deputy Managing Director from the end of August, before taking up the position of Managing Director following Mr Pickett's departure.

Mr West has more than 25 years experience in the property industry. He has previously held senior management positions with major property organisations including his role as Vice President for Global Real Estate - American Express International, where he was responsible for managing the corporate real estate team for Japan, Asia Pacific and the Subcontinent.

DTZ CEO for Australia and New Zealand Chris Johnson said Mr West's interim appointment as Deputy Managing Director would ensure a seamless handover of the management of the New Zealand business.

"This appointment delivers a clear succession plan for our New Zealand business and clients. Colin's credentials and real estate track record made him an ideal fit for the role," Mr Johnson said.

"His role will be to expand the services already offered by DTZ to our New Zealand clients and to increase the level of cross-border activity with Australia, and throughout Asia-Pacific."

DTZ has also recently made a number of significant acquisitions regionally and globally.

On 5 July it expanded its Australian and New Zealand operations through the acquisition of Sydney-based specialist commercial and industrial business Harlow Property Consultants for an initial payment of A$1 million and further payments of up to A$1.5 million

On 10 July DTZ announced its acquisition of Donaldsons LLP, a UK-based property consultancy, for an initial consideration of A$93.37 million (£39.8 million), plus deferred consideration of up to A$20.64 million (£8.8 million). The transaction strengthens DTZ's market position and significantly enhances the company's global comprehensive service offering, particularly in relation to retail property.

At the beginning of July, DTZ Holdings plc reported their results for the year ended 30 April 2007 which showed a 33.5% increase in revenues, a 41% increase in pre-tax profits, and increased dividend.

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