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    Jason Sabchan

    Research Analyst at Keefe, Bruyette & Woods (KBW)

    Jason Sabchan is an equity research analyst at Keefe, Bruyette & Woods (KBW), specializing in the financial services sector with a focus on insurance and related industries. As part of his role, he covers a range of public insurance companies and financial firms, providing sector-specific insights and actionable investment recommendations for institutional clients. Sabchan began his career in equity research in the early 2000s and has accumulated experience at leading financial firms prior to joining KBW, where he has earned a reputation for rigorous analysis and reliable market perspective. He maintains active industry credentials, including FINRA Series 7, 63, 86, and 87 securities licenses, and is recognized for delivering research performance that aligns with industry benchmarks.

    Jason Sabchan's questions to NEWMARK GROUP (NMRK) leadership

    Jason Sabchan's questions to NEWMARK GROUP (NMRK) leadership • Q2 2025

    Question

    Speaking for Jade Rahmani, Jason Sabchan of KBW asked if Newmark had long-term targets for other segments similar to its 2029 management services goal, requested details on data center deal flow and fee structures, and inquired about growth expectations for H2 2025.

    Answer

    CFO Michael Rispoli confirmed the $2 billion management services revenue target for 2029 but stated there are no similar long-term targets for other segments, pointing instead to the existing 2026 adjusted EBITDA and EPS goals. He clarified that data center deal fees are comparable to the rest of the business, averaging around 70 basis points for sales and 40-50 for debt. For H2 2025, he projected high single to low double-digit growth for management and leasing, and mid-to-high teens growth for capital markets.

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