LOS ANGELES—CBRE Group Inc. will be reorganizing its organizational structure effective in 2019 into three global businesses: Advisory Services; Global Workplace Solutions; and Real Estate Investments. As part of this initiative, the commercial real estate services and investment firm has promoted Mike Lafitte to Global CEO, Advisory Services.
The new organizational structure will replace the existing operations that manage CBRE’s services business within its existing geographic businesses—Americas, EMEA and APAC. That structure will remain in effect for the remainder of 2018.
“We believe organizing around and publicly reporting on our Advisory Services, Global Workplace Solutions and Real Estate Investments businesses beginning in 2019 will drive more efficiency and accountability with our management team and provide investors with more transparency into the company’s performance,” says Bob Sulentic, CBRE’s president and CEO.
In addition to serving as Global CEO, Advisory Services, Lafitte will serve as CEO, Americas through the end of 2018. In his new role, he will be 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 and Africa and Asia Pacific regions.
William Concannon will continue to serve as Global CEO, Global Workplace Solutions, which comprises facilities management, account-based project management, dedicated account-based leasing services and management consulting.
Other promotions announced today include Jack Durburg, who previously served as Americas CEO, to Global Chief Operating Officer, a 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, the company states. In January 2019, Steven Swerdlow will be promoted to Group President, reporting to Durburg, and his duties will include responsibility for global research and marketing, and support for worldwide M&A activity in partnership with CBRE’s Corporate Development team.
CBRE also reports that in January 2019, the company will eliminate the CEO roles for the Americas, EMEA and APAC regions and elevate 12 existing Advisory Services divisional presidents across the globe. Seven divisional presidents in what is currently the Americas business will report directly to Lafitte. The other five divisional presidents will report to Martin Samworth, who will be promoted to Group President and CEO, Advisory Services: Europe, Africa, and Asia Pacific. Samworth will oversee the divisional presidents of Continental Europe, India, Southeast Asia, the Middle East and Africa; North Asia; Pacific and the United Kingdom regions. Samworth will continue to report to Lafitte.
Daniel Queenan has been promoted to Global CEO, Real Estate Investments, with responsibility for CBRE’s global investment management (CBRE Global Investors) and development services (Trammell Crow Company) businesses. Ritson Ferguson will continue as CEO of CBRE Global Investors, reporting to Queenan.
Within the CBRE Global Investors business, Jeremy Plummer has been promoted to Chief Investment Officer and Sophie van Oosterom has been promoted to CEO of EMEA, which is the largest business within CBRE Global Investors.
In January 2019, Ian Entwisle will be promoted to CEO, Global Workplace Solutions: Europe, Africa and Asia Pacific.
The promotions of Lafitte, Durburg and Queenan are effective immediately. Those executives, along with Concannon, report directly to CBRE president and CEO Sulentic.