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Compass divisions become independent subsidiaries.

Equitable Real Estate Investment Management, Inc. has announced that its COMPASS divisions will begin operating as stand-alone subsidiaries as of April 1. The new status reflects the divisions' significant, 85-percent growth in properties under management in less than two years. The New York region, headed by Vice President Ralph J. DiRuggiero, contributed substantially to that growth, increasing its office and industrial space under management to nearly 7 million square feet in early 1992 from 700,000 square feet one year earlier.

Nationally, the new management and leasing subsidiary will be led by Gary R. Sligar, as president and chief executive officer. Phillip E. Stephens has been named president and chief executive officer of COMPASS Retail.

Additional COMPASS Management and Leasing promotions include Bruce W. Ficke to senior vice president and national leasing coordinator, Angelo J. Verde to senior vice president and chief financial officer, and S. Kenan Manson III to senior vice president, administration and operations. James F. Mann has been promoted to senior vice president of COMPASS Development, COMPASS Management and Leasing's development arm.

At COMPASS Retail, Gregory R. Greenfield has been named executive vice president and chief operating officer; William Sullivan has been named executive vice president for leasing and William Brown has been named senior vice president and chief financial officer.
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Publication:Real Estate Weekly
Article Type:Brief Article
Date:Apr 8, 1992
Words:214
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