CBRE Announces Reorganization, Executive Promotions
- Aug 21, 2018
CBRE Group Inc. will be undergoing a transformative reorganization at the beginning of 2019, which will see the promotion of many senior executives.
“The new structure establishes clearer lines of authority, provides greater transparency and accountability and drives excellence and efficiency throughout the organization,” Bob Sulentic, CBRE’s president & CEO, told Commercial Property Executive. “All of this will help us to advance our strategy and move us toward our aspiration to be a truly world-class company.”
While the final months of 2018 will find CBRE continuing to manage its services business within its existing geographic businesses (Americas, EMEA and APAC), the company’s new structure will consist of operations around a trio of global businesses: Advisory Services; Global Workplace Solutions; and Real Estate Investments.
“The changes are aimed squarely at several key pillars of our strategy, particularly ensuring that we have top talent in key leadership roles, fostering excellence across business lines, geographies and support functions and enabling the business to operate as efficiently as possible,” said Sulentic, who was an Honorable Mention for Service Executive at the CPE Executive of the Year awards in 2017.
Sulentic also recently delivered the keynote address at Realcomm.
Mike Lafitte, who currently is CEO, Americas, will also serve as Global CEO, Advisory Services, responsible for leasing, capital markets (sales and mortgage services), property management, valuation services and local project management service lines across the Americas, Europe, the Middle East & Africa and Asia Pacific regions.
Former Americas CEO, Jack Durburg, was promoted to the new position of global chief operating officer. In his new position, Durburg will have broad responsibility and authority across the entire company for service line excellence, operating efficiencies and its global client care program.
Another promotion effective immediately is Daniel Queenan who has been named global CEO, Real Estate Investments, with responsibility for CBRE’s global investment management services and development (Trammell Crow Co.) businesses.
Once January arrives, Steven Swerdlow will be promoted to group president, reporting to Durburg. His responsibilities will consist of global research and marketing, as well as support for worldwide M&A activity in partnership with CBRE’s Corporate Development team.
“We are elevating our best leaders, empowering them and putting them in key roles where they will have the most impact,” Sulentic said. “This will drive both continued growth for CBRE and the delivery of exceptional outcomes for our clients.”
Also in January, CBRE will do away with the CEO roles for the Americas, EMEA and APAC regions and elevate 12 existing advisory services divisional presidents across the globe. Additionally, seven divisional presidents in what is currently the Americas business will report directly to Lafitte. Five other divisional presidents will report to Martin Samworth, who will be promoted to group president & CEO, Advisory Services: Europe, Africa, and Asia Pacific.
Ritson Ferguson will continue as CEO of CBRE Global Investors; Jeremy Plummer was promoted to chief investment officer and Sophie van Oosterom has been promoted to CEO of EMEA. In January, Ian Entwisle will be promoted to CEO, Global Workplace Solutions: Europe, Africa and Asia Pacific.
Image courtesy of CBRE