Bill Raveis, the chairman and CEO of William Raveis Real Estate, Mortgage & Insurance recently announced that his two sons, Chris Raveis and Ryan Raveis are the new co-presidents of William Raveis, Inc. The company is operating various businesses that include real estate, mortgage and insurance and commercial assets.
The passing on the torch to his two sons, according to Bill, is a preparation for the future. This is a set plan to ensure the future growth of the family-owned businesses.
According to CTPost, Chris was appointed as president of residential sales, while Ryan was appointed as president of the mortgage division.
"They earned their way to the top. This phase represents a dream I've always had in passing a family business along to my sons. More importantly, it is a strategic move to propel the company forward and secure its prosperity in the future," Bill said.
William Raveis Real Estate is a Shelton-based brokerage company. It is said to have $9 billion to $10 billion of annual real estate sales. Since 2003, the company has expanded its home estate in Connecticut. Additionally, the company added 74 more office space properties, leading to $4.4 billion sales last year.
According to Business Wire, the family patriarch and company CEO made the move as a futuristic approach. He knows his sons deserve the top position of the company. With the recent pronouncement, he believes his decision is right to secure more success in the future.
After 42 years of business operation, William Raveis Real Estate has achieved dramatic growth. From a single office space, it has grown to multiple real estate businesses that are intertwined into a big family enterprise. It has more than 6000 insurance customers and billions of dollars of mortgages.
"It's great that they happen to be my sons," Bill Raveis said.