"We've operated in Brazil for six years," John B. Coppedge III, EVP of international operations for C&W tells GlobeSt.com. "We felt now was the time to expand, even though Brazil is going through a recession and has elected a new president that takes charge the first of the year, which raises more questions about the economy."

Coppedge explains that this uncertainty is creating an incremental need for real estate services. "Our clients are looking at consolidation and retraction across South America and need help coming up with a real estate strategy. We're helping them create and implement that strategy."

He adds that C&W currently manages $15 million sf of space in South America for banks and financial institutions. "We want to continue to expand, particularly in the facility management arena."