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Kroll And Cushman & Wakefield Join Forces To Offer One-Stop Global Solution To Business Risk Issues
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01/16/2005
NEW YORK-- Kroll Inc. (NASDAQ: KROL - News), the world's leading independent risk consulting company, and Cushman & Wakefield, the world's preeminent real estate services firm, have formed a strategic alliance to offer corporations a one-stop global solution to business risk and security issues. The two firms, which share scores of Fortune 500 clients and have offices in 30 of the same cities worldwide, have joined forces to help clients ensure the safety and integrity of their facilities, finances and personnel. <p> "Large global companies today face a host of issues that can threaten the very existence of their business," said Jules Kroll, executive chairman of Kroll Inc. "Terrorism is a true threat, but employees, vendors and business partners are the more likely source of physical and financial damage. Adding to the pressure, corporations must rise to the challenge of new corporate governance regulations and public demands for the highest business ethics, while striving for profitability in a distinctly challenging economic environment." <p> "Today's world of risk is forcing global corporations to meet a new corporate standard of care," said Arthur J. Mirante, Cushman & Wakefield's president and chief executive officer. "The alliance with Kroll leverages our complimentary professional capabilities and overlapping worldwide networks to give clients a single-source solution to complex business risk and integrity issues and helps them provide the high level of physical and financial protection that their employees, customers and shareholders now demand." <p> The Kroll-Cushman & Wakefield alliance provides clients with analysis, planning, implementation, training and benchmarking to address business risk issues. The two firms jointly offer a wide diversity of services that can be integrated to support corporate expansion, downsizing, and day-to-day operations. For example, for companies opening new facilities, the alliance can assist with site selection, construction management and ethics monitoring, employee background checks, security and crisis management planning, and ongoing facility management. Companies expanding globally can take advantage of services in areas such as political risk assessment, partner due diligence, lease negotiation, and executive protection, while those at risk of going out of business can benefit from such services as forensic accounting, corporate restructuring, asset valuation and real estate liquidation. <p> The new alliance builds upon the two firm's relationship as mutual clients. For years, Kroll has provided property threat, security design, and systems implementation service for Cushman & Wakefield projects. Now Kroll is assisting also with crisis management, business continuity and integrity programs, and Cushman & Wakefield has become Kroll's global real estate advisory and brokerage firm. In addition, Kroll Managing Director Blake Coppotelli, a former Manhattan assistant district attorney known for prosecuting construction fraud, has been appointed to Cushman & Wakefield's Integrity Committee, which oversees adherence to the policies governing the highest standards of ethical and professional conduct in serving the needs of clients. <p> Mr. Coppotelli and John Santora, executive vice president of Cushman & Wakefield's Asset Services group, will oversee the marketing and delivery of the two companies' combined services. Because two firms share such a large base of multinational clients based in the Northeast, the alliance's initial priority will be assisting these corporations with their global risk management needs through their overlapping global office networks. <p> Mr. Santora, whose group manages more than 325 million square feet of property worldwide, pointed out that the alliance gives clients the benefit of complementary advice and implementation by both companies. "The synergy between our services is most obvious with respect to physical security issues and property management," he said. "Kroll would provide clients with recommendations on security and crisis management plans, then Cushman & Wakefield would provide the operational support, including critical systems maintenance and implementation of disaster recovery and emergency preparedness programs." <p> Mr. Coppotelli added that, in other areas such as construction management, Kroll would provide the implementation, coming in on Cushman & Wakefield projects to vet the contractors and monitor their billing and compliance with ethical standards. "With construction project management as with every other area on which we will collaborate," he said, "the ultimate goal is to help clients prevent problems before they occur." <p> Cushman & Wakefield has been long engaged by many of the largest companies to handle global facilities from Shanghai, to Eastern Europe, and across the United States. Prior to and after the September 11 attack, the firm has managed and maintained buildings and businesses around the World Trade Center complex, including 7 World Trade Center and the New York Mercantile Exchange. Kroll's construction monitoring services, which provides fraud and cost abuse protection on construction projects, including oversight of procurement, pricing, billing, labor and materials usage, and environmental/safety compliance, has been used on some of the largest construction projects in the New York area and other locations throughout the world. <p> About Kroll: <P>
Kroll Inc. (NASDAQ: KROL - News), the world's leading independent risk consulting company, provides a broad range of investigative, intelligence, financial, security and technology services to help clients reduce risks, solve problems and capitalize on opportunities. Headquartered in New York with more than 60 offices on six continents, Kroll has a multidisciplinary corps of more than 2,200 employees and serves a global clientele of law firms, financial institutions, corporations, non-profit institutions, government agencies and individuals. Core services include business intelligence and investigations, forensic accounting and litigations support, corporate advisory and restructuring, background screening, substance abuse testing, security engineering and consulting, protective services and training, crisis and emergency management, travel risk intelligence, data recovery, electronic discovery and computer forensics. For more information, please visit: www.krollworldwide.com. <p>
About Cushman & Wakefield: <p>
Cushman & Wakefield is the world's premier real estate services firm. Founded in 1917, and now through a combination of our Cushman & Wakefield offices, Alliance and Associate offices, the firm has 163 offices in 49 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. We also provide valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm's Web site at www.cushmanwakefield.com.
