Senior level departures at CBRE; firm expected to add to capital markets team

Singapore

SOME reshuffling is set to take place among real estate consultancies, with several senior level departures taking place at CBRE.

It is understood that CBRE's managing director of capital markets (Singapore), Jeremy Lake, as well as Galven Tan, executive director of capital markets (Singapore), have both left CBRE this week.

Mr Lake and Mr Tan are understood to be joining Savills. When contacted by The Business Times, Savills declined to comment.

Brenda Ong, CBRE's former executive director and head of industrial & logistics services, and former senior manager Maverick Li are understood to have both left the company earlier this month. Jonathan Tan, previously a director and also part of the same team, is said to have departed from CBRE in August. Ms Ong is believed to be heading to Cushman & Wakefield. When contacted, Cushman & Wakefield did not confirm this.

Rimon Ambarchi, who is currently executive director of industrial & logistics services at CBRE, will take over as CBRE's new head of industrial & logistics services for Singapore and South-east Asia.

Ms Ong, Mr Ambarchi, Mr Tan and Mr Li all joined CBRE in 2015 from property consulting group Colliers International, where they were on the industrial services team.

Meanwhile, BT understands from market sources that CBRE is poised to bring in Greg Hyland, JLL's outgoing head of capital markets for Singapore.

Another recent addition to the CBRE capital markets team was executive director Hugh Menck in August, BT understands. Mr Menck, who focuses on cross-border investment deals across Asia-Pacific, has 20 years of experience in capital markets.

And CBRE's co-head of advisory & transactions services (office services) Michael Tay, with over two decades of commercial real estate experience, has seen his role expanded and has been concurrently appointed as head of capital markets for Singapore.

In response to queries from BT, a spokesperson for CBRE said: "We have always maintained nimble bench strength, and our established talent and succession programmes will ensure that clients continue to receive the high quality of service from CBRE. We will share further regional leadership updates in due course."

These changes come some months after senior executive departures at Knight Frank, with former Knight Frank senior executive Alice Tan joining List Sotheby International Realty as its director for research and consulting (South-east Asia), while Knight Frank's former executive director and retail head, Wendy Low, left to join developer UOL.