CBRE has appointed the head of Lloyds’ corporate real estate business support unit as managing director of its corporate finance division.
Richard Dakin will take over the role as head of CBRE Capital Advisors from Philip Cropper, who becomes chairman.
Dakin, who spent 30 years at Lloyds before announcing his departure in October, will also join CBRE’s management and strategy boards
Stephen Hubbard, CBRE’s UK chairman, said: “Increasingly, we operate in a space where clients need deep financial advice and insight, which is why Richard’s expertise and leadership skills will be invaluable to accelerate our growth into the future. He will have a key role in strengthening our team’s financial expertise and expanding our capability to meet clients’ needs.”
Dakin’s credentials include leading the deleveraging of Lloyds’ non-core commercial property assets, which shrunk from £45bn in 2009 to its current book size of less than £5bn.
