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GENERAL PROPERTY

Knight Frank introduces new Australian partnership structure

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KNIGHT Frank will usher in a new partnership structure in Australia from 1 July 2018, modelled on the firm’s UK scheme.

In less than three weeks time, all senior directors, group directors, service line leaders and managing directors will become partners.

The initial change will mean that around 80 senior leaders will become partners.

CEO Stephen Ellis said the partnership program has been a long time in the making.

“Knight Frank has always held a distinctive position in the Australian property industry as the only global, privately-owned real estate services provider without external shareholders, and we now have an opportunity to amplify our true strengths by differentiating ourselves from our competitors.

“I am excited by the new ‘Partner Program’ which will become a key element of our leadership plan. It will be the foundation block for sustained success and unite the leadership team with a mutual accomplishment and entrepreneurial focus,” Ellis said. “The UK has a demonstrated track record proving the partnership structure is a key appointment, recruitment and retention tool.”

Australian Property Journal