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.

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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.

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

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A native of Australia, Shute joined CBRE in 1998 and quicklybecame managing director of the South Australia office. He went onto become managing director of the San Diego office in 2005 beforereplacing Mark Bouchard as managing director of Las Vegas in August2006. Including a stint in Kuala Lumpur, Malaysia, Shute has 13years of overseas experience.

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"It's a great oppotunity for me to grow both existing and newclient relationships," Shute tells GlobeSt.com. "There are a lot ofinternational clients looking to go from China and Hong Kong to theUS and US clients looking to go the other way."

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With regard to the language barrier, Shute says it shouldn't bea problem. Beign a former British Colony, he says a lot of businessis done in English, especially at the corporate level, which iswhere CBRE's focus lies.

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With regard to his replacement in Las Vegas, Shute says anextensive search is being undertaken -- both inside and outside thecompany and both within and beyond Las Vegas. Shute hopes to beable to announce his successor by Aug. 10, which is when he isscheduled to leave for Hong Kong.

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There has been movement among Las Vegas managing directors as oflate. Prior to Shute's announcement, one of the co-founders of NAIHorizon's local office left the company in April to start his ownfirm. Phoenix-based NAI Horizon then shut down operations in LasVegas but NAI corporate quickly opened up its own office and luredColliers then senior managing director, Victor Donovan, to run theshop. Colliers then backfilled Donovan with Michael Mixer, thelocal managing partner, broker of record and co-founder of theoffice.

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