NEW YORK — In a move that is meant to both bolster business and lay the groundwork for a succession plan, Mortimer Singer’s role at Marvin Traub Associates has been extended beyond president to include partner.
But the company’s namesake, who remains chief executive officer, said he has no intentions of retiring anytime soon. “It is important to emphasize I am having a very good time,” said the 85-year-old Traub. “I’m very busy at this point and the business is doing very well. I have no plans to step aside. But clearly at my age we’re building for the future.”
Traub and Singer — whom Traub described as “the unusual combination of a very skilled banker and a very enthusiastic merchant” — are now in their ninth year of working together. Both executives said they have been working toward this setup for a while.
“I am delighted to have Mortimer as my partner,” said Traub. “He assumes this responsibility at a time when our company is at an all-time peak. Mortimer has helped to broaden the scope of and depth of our services and, in doing so, we are able to provide a wealth of experience, expertise and value for our clients.”
MTA offers a variety of services, including mergers and acquisitions, venture capital, real estate merchandising and leasing and licensing.
“We provide a service that is quite holistic. We are able to come at a problem from a variety of angles,” Singer said. “We’re not the kind of company to come in and hand over a pretty pitch book or document after so many weeks. From Day One, [when working with clients], we become part of the management and together build a plan that is right for that particular arrangement.”
Launched in 1992 by Traub, the former chairman and ceo of Bloomingdale’s, the company now has 25 clients in 11 countries. New undertakings include executing U.S. launches for the British sportswear brand Lipsy and the French children’s wear label Pearls & Popcorn. The latter will entail a major launch later this year with a department store that will tie into the release of a music video. Singer declined to pinpoint MTA’s annual billings for the six-person firm, which operates out of Park Avenue offices.
Last year, MTA lined up a joint venture deal with Related Real Estate to open two luxury shopping centers in Abu Dhabi. Earlier this year, they said their first project would be The Galleria at Sowwah Square. MTA and Related had not worked together since they collaborated on the Time Warner Center, the shopping mall in Manhattan’s Columbus Circle.
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