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CBRE Names New CFO, Adds CIO

LOS ANGELES-CB Richard Ellis Group Inc. has named Robert E. Sulentic as the company's new CFO and has appointed Jim Groch to the newly created position of chief investment officer for corporate finance and strategy. Sulentic is CEO of CBRE's development services business, while Groch is CIO for the development services business.

Sulentic succeeds Gil Borok, who assumed the responsibilities of interim CFO after former CFO Kenneth Kay resigned in November. Borok will resume his responsibilities as the company's EVP and chief accounting officer. Additionally, he will assume the role of CFO of the company's Americas business.

Sulentic in addition to his duties as CEO of the CBRE development services business, served until recently as group president of CBRE's EMEA and Asia Pacific operations. Before that, he was CFO and then CEO of Trammell Crow Co. before its acquisition by CB Richard Ellis in December 2006. In addition to his duties as CFO, he will continue to lead the company's development services business.

Groch will continue as CIO for the development services business along with his new duties as CIO for CBRE. He held a similar position with Trammell Crow Co. before its acquisition by CBRE. Among his responsibilities will be a focus on managing the company's capital structure and balance sheet and overseeing merger and acquisition activities.

Brett White, president and CEO of CB Richard Ellis, comments that in their new roles, Sulentic and Groch will lead the company through the current down cycle and position CBRE to take advantage of an eventual improvement in market conditions.

By Bob Howard