DOUGLAS ELLIMAN IS NOW INSIGNIA DOUGLAS ELLIMAN

DOUGLAS ELLIMAN IS NOW “INSIGNIA DOUGLAS ELLIMAN”New Synergies for New York’s Largest Residential Real Estate Firm

The name change – announced jointly by Insignia Chairman & CEO Andrew L. Farkas and Insignia Douglas Elliman Chairman & CEO Alan J. Rogers -- was unveiled at a company-wide meeting held today at the New York Marriott Marquis.

“The new name underlines Douglas Elliman’s integral position within one of the world’s largest and most dynamic real estate services organizations,” said Mr. Rogers. “By tapping Insignia’s vast resources both globally and locally, we will offer enhanced services to New York’s home-buying public as well as increased support for our brokerage team throughout the metropolitan New York area.”

Andrew Farkas


	Access to Global Platform Insignia Douglas Elliman will have increased access to Insignia’s global real estate services platform, which includes more than 8,000 professionals on a worldwide basis. Internationally, Insignia has 27 offices in the United Kingdom, continental Europe, Asia and Latin America. The international offices will serve as a business-generating source for Insignia Douglas Elliman’s brokerage professionals.
Alan J. Rogers

The closer ties will enable Insignia Douglas Elliman to forge synergies with Insignia’s other market-leading subsidiaries in New York City, including Insignia Residential Group, the City’s largest manager of cooperative and condominium apartments, and Insignia/ESG, the City’s largest commercial real estate brokerage company.

“Insignia is the quintessential New York real estate company and the only one capable of providing premier services across the full spectrum of residential and commercial real estate,” said Mr. Farkas. “This unique, unrivaled market position will open up new avenues of opportunity and business referrals for our professionals at Insignia Douglas Elliman.”

A broker-specialist program will be launched, with Insignia Douglas Elliman brokers assigned to track market activity at each of the more than 300 apartment buildings managed by Insignia Residential. Another new program, Corporate Connect, will afford increased opportunities for Insignia Douglas Elliman to perform relocation services for the corporate clients of Insignia/ESG.

Insignia Douglas Elliman has also formed a Global Board of Directors. The members include: Alan Rogers (Chairman), Mary Ann Tighe (Vice Chairman), Adam Gilbert (Vice Chairman), Alan Froggatt, Jim O’Connor, Simon Robinson, Steve Ross, Stephen Siegel and Ron Uretta.

Many of these people hold senior executive positions at companies throughout the Insignia family: Ms. Tighe is Vice Chairman of Insignia/ESG; Mr. Gilbert is General Counsel of Insignia Financial Group; Mr. Froggatt is Chief Executive Officer of Insignia’s United Kingdom and European operations; Mr. Robinson is Chief Executive Officer of Insignia’s Asian operations; Mr. O’Connor is Executive Managing Director of Insignia Residential Group; Mr. Siegel is President of Insignia Financial Group and Chairman and Chief Executive Officer of Insignia/ESG, and Mr. Uretta is Chief Operating Officer of Insignia Financial Group and President of Insignia/ESG. These executives will continue in their present roles in addition to having joined the Insignia Douglas Elliman Board.

Insignia Douglas Elliman has also promoted two senior executives: Paul Purcell, Managing Director and Chief Operating Officer, has been named President, and Kathy Braddock, Managing Director and General Sales Manager, has been named Executive Managing Director. In addition, Daniel Kaplan has been named Chief Financial Officer of Insignia Douglas Elliman.

As part of the name change, Insignia Douglas Elliman has adopted Insignia’s corporate branding architecture. All Insignia Douglas Elliman marketing materials and stationery will now don the blue Insignia “i” logo – affording a contemporary image for a venerable company that traces its leadership in New York City residential real estate to 1911.

Insignia Financial Group purchased Douglas Elliman, a residential real estate brokerage firm in New York City, in 1999. In 2000, Insignia Douglas Elliman achieved record transaction volume of more than $2.8 billion. The firm has nine offices located throughout New York City, plus six offices in Greenwich, CT, Darien, CT, Basking Ridge/Bernardsville, NJ, and, on Long Island, NY, in Locust Valley, Manhasset and Port Washington/Sands Point, as well as affiliated offices throughout the world.

Insignia Financial Group, Inc., based in New York, is a real estate services and financial services company. Its major operating units are: Insignia/ESG, one of the largest providers of commercial real estate services in the United States; Insignia Richard Ellis, one of the premier real estate services firms in the United Kingdom; Realty One, one of the largest residential real estate brokerage firms in the United States and the largest in Ohio; Insignia Douglas Elliman, the number one provider of residential sales and rental brokerage in the New York City market, and Insignia Residential Group, the largest manager of cooperative and condominium housing in the New York metropolitan area. The Company also has operations throughout Europe, Asia and Latin America.