New York, NY 15 June 2012 – Mark Costello, for many years the Managing Partner of Ernst & Young’s Americas Construction & Real Estate Advisory Services (CREAS) practice, has been appointed Global Leader of the organization’s Real Estate Advisory Practice.
Costello replaces former Global Advisory Leader, Malcolm Bairstow. In an announcement made today by Howard Roth, Global Leader of Ernst & Young’s Real Estate Group, he said that London-based Bairstow will continue to head Ernst & Young’s Global Infrastructure & Construction practice.
“With 30 years of experience under his belt, 5 of those in key capacities at Ernst & Young, Mark has assembled an extensive knowledge of the real estate sector, including hands-on real estate experience in brokerage, property and asset management, development and corporate management,” says Roth. Costello’s professional knowledge has grown to encompass advisory capabilities in strategic planning, enterprise cost reduction, portfolio management, process improvement and organizational design.
During Costello’s leadership of Ernst & Young’s CREAS practice in the Americas, he built and led a practice which now has nearly 100 Ernst & Young employees spread among three major hubs located in Dallas, Los Angeles and New York. “In this capacity, Mark has already crossed borders, served his clients globally and worked closely with other Ernst & Young real estate professionals around the world. That experience has more than prepared him to assume this important global leadership role,” said Roth.
Costello said he looks forward to the opportunity, “I am absolutely delighted to be taking on this new challenge” he said. “With the movement of capital and corporations becoming ever more global, I look forward to increasing our cross-border support for large-scale real estate transformation projects and other real estate advisory projects. A properly structured global real estate advisory network can be instrumental in assisting our clients with large-scale capital projects anywhere in the world.”
About Ernst & Young’s Global Real Estate Center
Today’s real estate industry must adopt new approaches to address regulatory requirements and financial risks, whilst meeting the challenges of expanding globally and achieving sustainable growth. Ernst & Young’s Global Real Estate Center brings together a worldwide team of professionals to help you achieve your potential — a team with deep technical experience in providing assurance, tax, transaction and advisory services. The Center works to anticipate market trends, identify the implications and develop points of view on relevant industry issues. Ultimately it enables us to help you meet your goals and compete more effectively. It’s how Ernst & Young makes a difference.
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