Marcus & Millichap promotes J.D. Parker to firmwide COO

Marcus & Millichap announced a management realignment to streamline decision making, execution and allocation of key executives to strategic growth initiatives. Hessam Nadji, president and CEO, Marcus & Millichap, stated: “The company’s brokerage operations will be consolidated under the position of chief operating officer, which will streamline key growth initiatives. At the same time, we are expanding responsibilities and market coverage for our most effective leaders, positioning them to focus on production and sales force productivity as the core drivers of their roles. The company is also placing more emphasis on client development, strategic investments and elevating its research services.” These changes are effective immediately and include newly created roles and revised leadership positions that will accelerate the execution of growth-driven projects and client service initiatives. J.D. Parker, chief operating officer of Marcus & Millichap’s eastern division has been promoted to executive vice president, chief operating officer firmwide. In this expanded capacity, Parker will oversee all brokerage-related operations and work closely with Nadji to set the firm’s strategic direction. “J.D. has held a variety of positions with the company over the past 20-plus years and will be instrumental in helping us make decisions and execute with more speed and consistency,” said Nadji. Richard Matricaria, chief operating officer, western division, now serves as senior vice president, chief growth officer. Matricaria will be responsible for key growth initiatives, including expanding the firm’s strategic partnerships and investments to grow revenue and enhancing the company’s producer training and development programs. The reorganization also includes expanded divisional leadership roles for the company’s most effective management leaders. As such, Ryan Nee, Tim Speck, John Vorsheck, and Michael Glass, who are currently division managers, will be promoted to executive managing director, chief revenue officer for their respective divisions. They will oversee a consolidated group of operating divisions across the country.