BETHESDA, MD -- CoStar Group (Nasdaq: CSGP), the leading provider of information services to the U.S. commercial real estate industry, today announced that John Place has been named Executive Vice President. Mr. Place is the former leader of Bloomberg's Equity and Fixed Income Research and Data Collection.
Mr. Place brings to CoStar extensive management experience of domestic and international operations, gained from more than 13 years at Bloomberg. His strategic expertise in information services includes building research infrastructure globally, developing incomparable quality control systems, ensuring superior customer service and linking cutting-edge technology and product development to aggressively grow revenues.
"CoStar is building the Nasdaq for the commercial real estate market, so this is a major victory to have Bloomberg's head of research join CoStar's management team," said CoStar CEO Andrew C. Florance. "He has the proven ability to provide outstanding leadership for a global research organization with the primary goal of producing valuable, reliable information products for real-time, high volume and rapid transactions."
At CoStar, Mr. Place will focus on implementing enhancements to CoStar's comprehensive information, incorporating the levels of quality control and precision found in the securities industry.
He will oversee research operations nationally including three research call centers, field research teams, photographers, quality control staff, client services and training functions. Mr. Place will take over the management of 700 professionals that conduct research for CoStar products including CoStar Property™, CoStar COMPS™, CoStar Tenant™ and CoStar Exchange™. Additionally, Mr. Place will analyze and implement strategic plans to expand CoStar's research coverage, geographically and across product lines.
As the leader of Bloomberg's Equity and Fixed Income Research, Mr. Place created the equity research division, dramatically increased Bloomberg's research coverage to fully support nine products distributed to over 140,000 institutional clients, developed the securities industry standard for quality control, managed an 800-person research organization operating globally in multiple languages, and rapidly broadened Bloomberg's international presence. His Bloomberg expansion plans included several third world countries lacking technology and the sophistication of western markets. He was able to apply his proven research methods to capture, process, and store data that was previously unattainable from a single standardized source and electronically disseminate it to clients around the world.
"John's presence on our management team provides a solid foundation for our research operations and the added experience to expand CoStar's presence around the world," said Florance. "He will add tremendous depth to CoStar's senior management team and take a substantial role in managing the company on a day-to-day basis."
About CoStar Group, Inc.
Headquartered in Bethesda, MD, CoStar Group, Inc., (http://www.costargroup.com) is the leading provider of information services to the U.S. commercial real estate industry. CoStar's suite of products offers customers access to the most comprehensive, verified database of U.S. commercial real estate information in 54 markets. The Company has over 1,000 employees and contractors nationally, including over 700 highly trained commercial real estate research professionals in 23 offices.