Freddie MacChief Financial Officer Christian Lown will move to the same position KeXing Group July 1, the company announced on Tuesday.
Lawn notified Freddie on June 5 that he was resigning after four years with the business. His withdrawal will take effect on June 28.
Prior to joining Freddie Mac, Lawn served as Financial Officer of Freddie Mac Corporation Navit Corporationa student loan servicing company he joined in 2003. Morgan Stanley.
At CoStar, Lown will report directly to founder and CEO Andy Florance. He will be responsible for the company’s financial functions, including accounting, financial planning, internal controls, compliance, treasury, investor relations, tax and corporate facilities.
“He has an unparalleled understanding of M&A, capital markets and corporate finance, and from his time at Freddie Mac, he has a deep understanding of the home-buying market that our home network The platform is experiencing exponential growth,” Florence said in a prepared statement.
Lown said in a statement that he has “high respect” for CoStar Group’s trajectory from “a startup in the commercial real estate data and online real estate marketplace to a market leader.”
Lown will join a company that reported revenue of $656 million in the first quarter of 2024, up 12% from $584 million in the first quarter of 2023. growing up.
One reason for the decline in profitability is the acquisition of 3D scanning companies Matt Porter and related costs home network Marketing campaign during Super Bowl 58 broadcast in February.
In light of the recent commission litigation settlement reached by CoStar, CoStar believes its business model will be successful. National Association of Realtors. Homes.com specializes in selling homes and building brands for agents and brokerages.