Compass CFO Kristen Ankerbrandt explains how the fast-growing brokerage company can reap profits - In partnership with jpmorgan
. The conversation took a turn when Compass' CEO and cofounder, Robert Reffkin, suggested instead that Ankerbrandt join as its chief financial officer.
Ankerbrandt has seized on that chance to expand, helping arrange the acquisition of a series of companies in businesses that are complementary to Compass' core focus in brokerage. It has, for instance, purchased title-insurance and escrow providers in hopes of bundling those services with the real-estate sales transactions it specializes in and boosting its profitability. It has also scooped up rival brokerage firms to add agents to the roughly 25,000 who already work for the company.
To create its mortgage business, for instance, Compass eschewed an acquisition in favor of a joint venture with the origination company"We're always really thoughtful about being disciplined financially whenever we do any kind of M&A," Ankerbrandt said."Guaranteed Rate has expertise, it gives us speed to market, and we thought it was important to get access to a really high-quality offering."in September for an undisclosed price.
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