LOS ANGELES--(BUSINESS WIRE)--CBRE Group, Inc. (NYSE:CBRE) today announced plans to divide the responsibilities of its Chief Financial Officer (CFO) and Chief Investment Officer (CIO) into two senior executive positions. Jim Groch, who has led both financial management and capital deployment functions since early 2014, will transition to focus full-time on capital allocation and deployment.
The plan to separate the senior executive positions comes as CBRE’s capacity to make investments has substantially increased following nearly a decade of strong financial performance and strategic gains across the company.
In his new role as Global Group President and CIO, Mr. Groch will primarily focus on opportunities to deploy capital in the company’s merger-and-acquisition program and to allocate capital that will be invested by its Real Estate Investments businesses – functions he has overseen for the past ten years.
“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,” said Bob Sulentic, CBRE’s president and chief executive officer. “Going forward, we will benefit tremendously from Jim’s exclusive focus on capital allocation and deployment.”
Based in Dallas, the new CFO position will oversee CBRE’s finance and accounting organization, tax, treasury, financial planning & analytics, business intelligence and investor relations. CBRE has initiated a search for its next CFO and has retained Korn Ferry to assist in this process.
Mr. Groch will continue to serve as CFO until a successor is transitioned into the role. “I am excited to devote my full time and attention to CBRE’s investment activities. I am passionately committed to these parts of our business and anticipate great opportunities to deploy our capital over time to add value for our shareholders and capabilities for our clients.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.