A member of CBRE's executive board, Shute is credited withimproving operations in Las Vegas, where he had responsibility overP&L, new business development and recruitment for brokerage,investment, property management, asset services, projectmanagement, capital markets and valuation. The group completed 340transactions valued at $3.5 billion in 2007, a 40% increase from2005.

Local industry sources tell GlobeSt.com he's leaving for theopportunity have more responsibility and be part of the explosivegrowth in China, where CBRE has 15 offices. While transactionaldata for the Hong Kong office alone was not available, CBRE'sAsia-Pacific region's 2007 activity totaled $20.3 billion in 2007,and the Hong Kong office is its largest office, with approximately600 staff, four times the size of the Las Vegas office.

"Hong Kong is a major international business center," says oneindustry source who requested anonymity. "It's definitely a bigstep for Shute."