CBRE Group 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, 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 10 years.
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 the process.
Groch will continue to serve as CFO until a successor is transitioned into the role.
