Tishman Speyer Hires Joseph Ritchie as Its First-Ever Head of Diversity
Tishman Speyer hired Joseph Ritchie to fill the newly created position of head of diversity and inclusion, as the commercial real industry tackles its stark lack of diversity, the developer announced.
Ritchie, who will also serve as managing director of business development, will join Tishman in May, after serving as senior vice president for development at Brandywine Realty Trust. At Tishman, he will focus on creating more diverse and inclusive communities and relationships across the firm.
“I very much look forward to working with colleagues across Tishman Speyer’s platform to take concrete, measurable action to address the historical inequities and structural impediments that have prevented a more diverse industry,” Ritchie said in a statement. “Our goal will be to create wealth and opportunity for businesses and individuals in the communities in which we do business, and by doing so enhance the value of our holdings and return to our investors.”
The lack of diversity in the commercial real estate industry is stark. Construction, architecture, and both commercial and residential real estate leasing and property management all have a higher proportion of white workers than the national employed workforce across all sectors. The share of women in the commercial real estate industry was roughly 37 percent as of March 2020, Commercial Observer reported.
Before joining Tishman, Ritchie also held executive roles at Trammell Crow Company, The Burks Companies, and Lomax Real Estate Partners. He also served as a consultant at Deloitte and helped create a minority entrepreneur program in Cape Town, South Africa.
“One of our top priorities at Tishman Speyer is to cultivate diversity and inclusion both within our firm and throughout the real estate industry,” Rob Speyer, Tishman’s president and CEO, said in a statement. “I am thrilled that Joe Ritchie will help lead this effort at Tishman Speyer. Joe will have a pioneering role both internally and externally, making an immediate and enduring impact across all of our portfolio and projects.”