Under the new structure, all eighty Senior Directors, Group Directors, Service Line Leaders and Managing Directors will become ‘Partners’ as of 1 July 2018.

Knight Frank Australia’s Chief Executive Officer, Stephen Ellis, said the partnership program has been a long time in the making, and is modelled on the firm’s UK scheme.

“Knight Frank has always held a distinctive position in the Australian property industry as the only global, privately-owned real estate services provider without external shareholders, and we now have an opportunity to amplify our true strengths by differentiating ourselves from our competitors," he said.

Mr. Ellis told WILLIAMS MEDIA that their clients are at the forefront of the business.

"By changing our partnership structure, we are demonstrating to our clients that our interests are aligned with theirs. As we are not a public company, we don't have external shareholders to satisfy, and we're not governed by quarterly returns, so we can satisfy our clients," he said.

"We want our clients to come and prosper with us. We always intend to remain a private company as that is our point of difference," he said.

Mr. Ellis says he's excited for the future of the firm's leadership plan.

“I am excited by the new ‘Partner Program’ which will become a key element of our leadership plan. It will be the foundation block for sustained success and unite the leadership team with a mutual accomplishment and entrepreneurial focus,” said Mr Ellis.

The initial change will mean that around 80 senior leaders at Knight Frank Australia will present themselves as Partners.

“The UK has a demonstrated track record proving the partnership structure is a key appointment, recruitment and retention tool,” concluded Mr Ellis.

The announcement comes after Knight Frank recently expanded their Global Prime Team, strengthening their private client offering for Australian luxury homeowners.

Led by Paddy Dring, Head of Global Prime Sales, the Global Prime team was expanded in response to the needs of the clients.

“We pride ourselves on identifying and responding to our clients’ needs and as their requirements become more bespoke, so does the service we provide them. Our Global Prime team was born out of this requirement," he said.

Sarah Harding, Head of Residential, Australia, told WILLIAMS MEDIA that Australian homeowners will benefit most from the expansion.

“This is an exciting moment for our business, further strengthening our ability to understand and service the needs of our global super prime clients – particularly in Australia where demand is strong for top-notch assets," she said.

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