C&W, Kroll form alliance.
According to the terms of the agreement, C&W will align its property management, construction, and transactional services with Kroll's risk assessment and corporate restructuring expertise.
In a news conference announcing the event, C&W president and chief executive officer Arthur J. Mirante said the alliance made sense because his firm and Kroll already share many global clients.
"We share 30 offices around the globe, so the potential for adding value to our clients is self-evident here," he said. "We will combine our resources to create new global standards of security for all the different classes of property."
Since risk assessment for terrorism has already become a part of C&W's task when choosing a new location for a client, the firm's executives felt that it would benefit from Kroll's experience in the area. At the same time, Kroll will be able to offer relocation services to clients that are downsizing or expanding.
"In selecting locations, which is what we do, security and risk assessment is now a part of our due diligence," said Mirante. "It has become an (important part) of comparing different locations and different office buildings. Now, through this alliance, we are going to offer this on a proactive basis."
Blake Coppotelli, Kroll's managing director, said that "with the advent of corporate accountability issues, Kroll has become an independent forensic investigations firm that some companies are looking at for corporate procedures and policies. There are clients who we work for that need to downsize or change their business structure--C&W has the ability to provide brokerage services to help them find appropriate opportunities."
The alliance is also a reflection of C&W efforts to differentiate itself in a slow market.
"One our strategies was to look at how we can leverage our services and this product was a result of that philosophy," Mirante said. "We should have a few more in the next six to nine months."
As part of the new alliance, Blake Coppotelli has been appointed to C&W's integrity committee. He, along with John Santora, executive vice president of C&W's asset services group, will be in charge of the firms' combined services.
"This alliance will really help us set some new standards in the risk management sector," said Santora. "Combining C&W's expertise with Kroll, we will bring our clients practical solutions to ensure their safety--crisis management, contingency planning, site evaluation. I think this is a tremendous opportunity for both firms and will be a help to our clients."
Currently, the alliance is viewed as a three-year arrangement. There is a chance, however, that it will be extended for an indefinite period of time.
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|Publication:||Real Estate Weekly|
|Date:||Jul 30, 2003|
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