Compass appoints Kalani Reelitz as CFO - RealTrends

Compass has appointed Kalani Reelitz arsenic the firm’s main fiscal officer. Reelitz’s assignment volition beryllium effectual connected Nov. 15.

As CFO, Compass said Reelitz volition beryllium liable for each aspects of the company’s fiscal operations, including capitalist relations, and helium volition absorption connected gathering sustained profitability and agelong word escaped currency travel for the brokerage.

“I could not beryllium much excited to articulation the squad astatine Compass astatine this captious clip successful the company’s travel to profitability,” Reelitz said successful a statement. “With its beardown instauration and a loyal, high-performing cause team, Compass has accomplished astonishing things successful its archetypal decade, becoming the largest brokerage successful the state by income measurement and joining the Fortune 500. I americium excited to beryllium a portion of the adjacent section of maturation and occurrence with this team.”

Reelitz has astir 2 decades of finance, concern and operational acquisition successful the existent property and retail industries. He has served arsenic CFO and COO astatine Cushman & Wakefield Americas, and spent 12 years astatine Walgreens serving successful finance, fiscal readying and analysis, and interior audit roles.

“Kalani is simply a beardown person with a heavy knowing of the existent property business,” Robert Reffkin, Compass’s CEO said successful a statement. “The operation of Kalani’s operational excellence and fiscal subject gained from galore years of helping ample nationalist companies turn profitably volition beryllium an unthinkable plus arsenic we accelerate our way to profitability.”

Reelitz’s assignment comes aft the firm’s erstwhile CFO Kristen Ankerbrandt announced that she would beryllium stepping down successful aboriginal May. Ankerbrandt served arsenic the brokerage’s CFO since 2018 and helped steer Compass to its archetypal nationalist offering.

In 2021, Compass ascended to the No. 1 brokerage successful the state by income volume. According to the RealTrends rankings, Compass closed 224,067 transaction sides for a full measurement of $251 billion. Despite the productivity, the brokerage has struggled to crook a nett since going nationalist successful April 2021, losing implicit $783 cardinal implicit the past six quarters.

These struggles resulted in three rounds of layoffs between June and September 2022, including a 10% simplification successful staff in June and cutting its exertion squad from 1,500 employees to 700 successful the August and September layoffs.