Five managers left real estate in the first two months of 2010

The beginning of the year was really hectic for real estate firms’ executives, with the two months seeing no less than five departures from investment funds, development companies or real estate consultancies. “The real estate field does not currently have many positions available for them to move, at least not at a general manager level, to salaries real estate execs have been used to. Standing to gain are those who entered real estate coming from other industries, so that they can now return to their initial business. Others may sign up for MBA programme or specialise in other industries, though they may not get general manager positions from the start,” commented Ulrik Rasmussen, a partner with Pedersen & Partners, one of the most dynamic recruiters in real estate management. Amid the shrinking business volume on the real estate market, managers started migrating as early as last year, but few are the cases where they actually chose to change their industry.