Khourie Returning to Lead Trammell Crow; Ferguson Elevated to CEO of CBRE Global Investors
|Ritson Ferguson, left, is the new CEO of CBRE Global Investors, while Matt Khourie, center, returns to Trammell Crow as CEO. Danny Queenan, right, will concentrate on running CBRE Global Investors.|
CBRE Group, Inc. made several changes in the senior leadership ranks of its investment management and development services affiliates. Current CBRE Global Investors chief executive Matt Khourie will become CEO for CBRE's development services company, Trammell Crow Co. Replacing Khourie as CEO will be T. Ritson Ferguson, CBRE Global Investors' chief investment officer.
Los Angeles-based CBRE has groomed Ferguson for a top leadership role after appointing him last August to the new position of global chief investment officer of CBRE Global Investors, which ranks as one of the world’s largest real estate investment management firms with $89 billion in assets under management.
Ferguson has served on Global Investors’ global investment committee since 2011 and will also remain as CEO of CBRE Clarion Securities, the company’s real estate securities business, a position he has held since 1991.
Danny Queenan, who also last August was named chief operating officer of CBRE Global Investors and has served as CEO of Trammell Crow since 2011, will take over most of the daily operations and strategic initiatives of the asset management affiliate. Queenan will remain on the Trammell Crow board of directors and continue to be active in Trammell’s strategic decisions, CBRE President and CEO Bob Sulentic said in announcing the changes.
For Khourie, the move will see him return to Trammell Crow, where he served as a senior leader for 29 years. He has led CBRE Global Investors since 2009.
Founded in Dallas in 1948, Trammell Crow is a renowned name in commercial real estate development. CBRE acquired the firm in 2006.
Khourie "is returning to a business where he enjoys tremendous relationships, having been an extremely successful executive at the firm for many years," Sulentic said.
Khourie was ready for a change after six years at CBRE Global Investors in Los Angeles, and the chance to get back to his roots leading Trammell Crow -- and back to an office in his home town of Houston -- was very appealing, said Pam Barnett, corporate communications director for CBRE in Los Angeles.
"TCC will benefit from having a full-time CEO," she said.
Ferguson will continue to maintain offices in both L.A. and Philadelphia.
"Ritson is the ideal successor for Matt." Sulentic added. "He has outstanding investment acumen, experience running global strategies and producing great outcomes for our clients, as well as a deep understanding of the Global Investors business, including leading firm-wide investment strategy and execution as CIO."
The leadership changes "reflect the depth of our senior leadership talent and allow us to capitalize on the skills and experience of three accomplished real estate investment executives," Sulentic concluded.