TORONTO, May 19, 2015 /CNW/ - Brookfield Real Estate
Services Inc. (the "Company") (TSX: BRE) announced today the
appointment of Glen McMillan as
Chief Financial Officer, effective immediately. Mr. McMillan
succeeds Kevin Cash, who held the
position of CFO since the Company's initial public offering in
2003.
Mr. McMillan brings a depth of executive finance and operational
experience to the role. He was most recently Senior Vice President
at Brookfield Asset Management, where over the past four years he
has managed a portfolio of more than 40 investments, orchestrating
numerous acquisitions, consolidations and expansions of the
businesses within the portfolio. Prior to this role, Mr.
McMillan served as CFO for Fraser Papers Inc. and as Vice
President, Finance and Secretary for Noranda Forest Inc. He is a
Chartered Accountant and holds a Bachelor of Commerce degree from
the University of Ottawa.
"We are excited to see Glen join our executive management team
as we move forward," said Spencer
Enright, Chairman of the Board of Directors, Brookfield Real
Estate Services Inc. "His deep knowledge and experience across a
broad spectrum of industries will enable us to accelerate our
efforts to capture future growth opportunities."
"We appreciate the many contributions Kevin has made to the
organization during his 12 year tenure. We thank him for his
service and wish him well in his future endeavors," added Mr.
Enright.
About Brookfield Real Estate Services Inc.
Brookfield
Real Estate Services Inc. (TSX: BRE) is a leading provider of
services to residential real estate brokers and a network of 16,206
REALTORS®1, as at March 31,
2015. It generates cash flow from fixed and variable fees
derived from real estate brokers and agents operating in
Canada under the Royal LePage, Via
Capitale and Johnston & Daniel brands. Approximately 71 per
cent of company revenue is based on fees that are fixed in nature,
providing revenue stability and helping insulate cash flows from
market fluctuations. The recurring fixed revenue structure combined
with strong brands and a successful growth strategy position it to
continue generating stable, long-term cash flows and paying monthly
dividends to shareholders. For further information, please visit
www.brookfieldresinc.com.
1 REALTORS® is a trademark identifying real estate
licensees in Canada who are
members of the Canadian Real Estate Association
SOURCE Brookfield Real Estate Services Inc.