Founder out as Newmark raids WeWork and Morgans for new Knotel team

Newmark has appointed a former WeWork president and hotels group boss as chief executive of flexible office provider Knotel. Micheal Gross replaces Amol Sarva (pictured), who co-founded the business and served as its chief executive until he agreed to sell the business to Newmark and place its US operations into Chapter 11 bankruptcy at the beginning of the year. Gross joins Knotel from Morgans Hotel Group, where he was chief executive, and WeWork where he was vice-president. Other new members of the leadership team include co-presidents Eric Gross and Yoav Gery. Eric Gross was also a senior executive at WeWork and held senior positions at Citadel Investment Group, Highbridge Capital Management and George Weiss Associates. At WeWork, he was instrumental in launching its real estate investment programme. The trio are tasked with driving the growth strategy of the new Knotel business and meeting the increased demand for flex space around the globe. Barry Gosin, chief executive of Newmark, said: “Our acquisition of Knotel’s business was driven by the significant role that flexible office solutions will play in the future of the workplace. Bringing on an experienced executive team that has a clear vision for this vertical, combined with Newmark’s market-leading platform, further positions us as a pre-eminent global provider of workplace solutions to fit virtually any need.” “As companies emerge from the Covid-19 crisis there is a unique opportunity to meet the current market needs,” added new Knotel chief executive Gross. “The future workplace will require agility, hospitality and amenities to attract employees back to the office. We are excited to usher in new holistic workplace solutions for our clients and leverage our hospitality and flex office space backgrounds.” To send feedback, e-mail samantha.mcclary@egi.co.uk or tweet @samanthamcclary or @estatesgazette