CBHillier Parker owner CB Richard Ellis has vowed to pump millions into boosting its New York operations.
The announcement came after the firm poached two senior Insignia ESG brokers this week.
CBRE has never commanded a significant presence in New York, but has identified the region as top of its list for expansion. Mary Ann Tighe, former Insignia/ESG vice-chairman, will serve as CBRE’s new president and CEO of the New York Tri-State region – which consists of New York, New Jersey and Connecticut – and Patrick Murphy, another Insignia senior broker, becomes executive managing director and partner of New Jersey operations.
CBRE has also taken on Cherrie Nanninga, former director of real estate for the Port Authority of New York and New Jersey, as chief operating officer of the Tri-State operations. CBRE has committed $120m (£77m) to the Tri-State region and has said that New York heads a list of 25 markets in which it wishes to be strong.
Germany is also high on that list. Last month it poached five of Jones Lang LaSalle’s leading capital markets investment agents in Germany.
However, CBRE was dealt a blow this week when its entire board in Italy resigned along with four senior directors.
They are believed to have been approached by new employers, with FPDSavills rumoured to be the favourite to take them on.
