2
TRANSACTIONS CUMMING GROUP IS JOINED BY LOS ANGELES-BASED DEVELOPMENT CONSULTANTS THE RIDGWAY GROUP, ELEVATING THE COMPANY’S EXPERTISE IN THE NUANCED LUXURY RETAIL AND HOSPITALITY SPACE Cumming Group, an international project management and cost consultancy, announced the addition of The Ridgway Group as its newest affiliate, expanding and enhancing the firm’s capabilities in the luxury market by joining forces with an esteemed project and cost management professional services firm. Established in 2014 in Los Angeles, The Ridgway Group, led by majority owner and UK-trained quantity surveyor Tom Donkin, specializes in luxury hospitality, retail, residential, and mixed-use projects internationally. By leveraging Ridgway’s extensive experience in high-profile real estate, Cumming Group will strengthen its ability to cater to the evolving demands of this market across the United States, the United Kingdom, and Europe.
Enhancing Cumming Group’s diverse portfolio, The Ridgway Group brings an impressive array of iconic luxury projects, as well as representing numerous family offices and their private developments in the USA and Europe. Derek Hutchison, president and CEO of Cumming Group, expressed his enthusiasm about the merger, stating, “The integration of The Ridgway Group into Cumming Group, with their international client base, aligns with several strategic objectives and builds on our collective portfolios and expertise. We are pleased to collaborate with such a talented team known for their meticulous execution of high-profile, bespoke developments.” Under the leadership of Tom Donkin, who brings more than two decades of experience in planning and managing luxury capital projects, The Ridgway Group will continue its operations within Cumming Group, ensuring a seamless transition and further enhancing the firm’s capabilities.
Interested in learning more
about the projects and ideas driving the AEC industry forward? Learn more with Civil+Structural Engineer Media.
WILL SWEARINGEN, from page 1
the survey data unveils a notable decline in the percentage of AEC firm leaders making political donations, particularly at the state and national levels. While 20 percent of respondents made contributions to local candidates, only 19 percent and 14 percent donated to state and national candidates, respectively. This shift suggests a reevaluation of priorities on spending and investment in the political process. ■ Economic impact on severance packages. Amidst economic uncertainties, the survey indicates adjustments in compensation structures, particularly concerning severance packages. While a small percentage (10 percent) of respondents have employment agreements specifying severance pay, there has been a decrease in the median and mean number of weeks specified, from 14 to 8 weeks and 21 to 15 weeks, respectively. This trend reflects a strategic response to economic pressures and changing labor market conditions, highlighting the need for firms to manage costs and remain competitive. Unlock unparalleled insights into the world of AEC firm leadership with the Principals, Partners & Owners Report . Explore the latest data on compensation, perks, key challenges, and qualifications shaping the industry’s ownership landscape. Click here to learn more. Will Swearingen is vice president and director of research and advisory services at Zweig Group. He can be reached at wswearingen@zweiggroup.com.
PO Box 1528 Fayetteville, AR 72702
Chad Clinehens | Publisher cclinehens@zweiggroup.com Sara Parkman | Senior Editor & Designer sparkman@zweiggroup.com Tel: 800.466.6275 Email: info@zweiggroup.com Online: zweiggroup.com/blogs/news LinkedIn: linkedin.com/company/22522 Instagram: instagram.com/zweiggroup Twitter: twitter.com/ZweigGroup Facebook: facebook.com/p/Zweig- Group-100064113750086 Published continuously since 1992 by Zweig Group, Fayetteville, Arkansas, USA. ISSN 1068-1310. Issued weekly (48 issues/year). © Copyright 2024, Zweig Group. All rights reserved.
AEC SMALL FIRM & ENTREPRENEURSHIP FORUM This new event gathers leaders of small AEC firms to discuss the unique issues of managing and growing a small business today. The one-day event includes keynotes, panel discussions, roundtables, and breakout sessions, all focused on the emerging trends and needs of small businesses. Join us May 21 in Atlanta, Georgia. Click here to learn more!
© Copyright 2024. Zweig Group. All rights reserved.
THE ZWEIG LETTER MAY 6, 2024, ISSUE 1536
Made with FlippingBook flipbook maker