CBRE has revealed plans to divide up the responsibilities of its chief financial officer and chief investment officer into two senior executive positions.
Jim Groch, currently CBRE’s chief financial officer and head of corporate development, is to become the company’s global group president and chief investment officer.
He will continue to focus on opportunities to deploy capital in the company’s merger-and-acquisition programme and to allocate capital that will be invested by its real estate investments businesses – functions he has overseen for the past 10 years.
The new CFO position, based in Dallas, will oversee CBRE’s finance and accounting organisation, tax, treasury, financial planning and analytics, business intelligence and investor relations.
CBRE has begun its search to fill the role and has retained Korn Ferry to assist in this process. Groch will continue to fulfil the role until a successor is appointed.
CBRE’s decision to separate the senior executive positions comes as the company said as its “capacity to make investments has substantially increased following nearly a decade of strong financial performance and strategic gains across the company”.
Bob Sulentic, CBRE’s president and chief executive, said: “Jim has had a profoundly positive impact on CBRE and has overseen a broad range of strategically important responsibilities for the company for an extended period of time. Going forward, we will benefit tremendously from Jim’s exclusive focus on capital allocation and deployment.”
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