By Keith Loria, Contributing Editor
CBRE Group Inc. has named Daniel Queenan as its new chief operating officer, CBRE Global Investors, and Steven Swerdlow as its new CEO, Asia- Pacific region.
“Steve and Danny are two of our most accomplished executives, and they are highly committed to our focus on exceptional client service and operational excellence,” Bob Sulentic, CBRE’s president & CEO, said in a prepared statement.
Queenan spent the past two years serving as CEO, Asia Pacific for the company, and will be relocating back to the U.S. In his new role, Queenan will help drive the strategy and operations for CBRE Global Investors and will report to Matt Khourie, CEO, CBRE Global Investors.
He will also serve on CBRE Global Investors’ Executive Committee and Global Investment Committee.
A 25-year veteran of CBRE, in his new role, Swerdlow will oversee all operations in APAC, and will report to Robert Blain, executive chairman, APAC, who will retain overall responsibility for the region. Swerdlow will also play a key role on the Asia Pacific Strategic Group. He will maintain his management responsibilities for CBRE’s U.S. Western Division and will split his time between Asia Pacific and the U.S.
“Steve brings strong leadership skills to his new role and will work closely with Rob to drive further growth across Asia Pacific,” Sulentic added. “Danny did an outstanding job of partnering with Rob to lead Asia Pacific. His more than 20 years of operating and investment experience will be a great complement to Matt, Ritson and our CBRE Global Investors team.”
There’s been a lot of activity of late concerning CRE and Asia Pacific.
In late July, CPE reported on the $4.5 billion acquisition by Singapore’s Global Logistics Properties Ltd. of a 58-million-square-foot industrial portfolio from Industrial Income Trust, of Denver. Once it closes, the acquisition will make GLP the second-largest owner of U.S. industrial real estate.
And in July, CPE tallied up some of the recent high-profile acquisitions by Asian investors, particularly Chinese insurance companies, in the U.S. hospitality market, transactions that could total $5 billion by the end of this year.