CB Richard Ellis Group, Inc. Names Michael J. Lafitte President of Its Americas Business.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Group, Inc. (NYSE NYSE See: New York Stock Exchange :CBG CBG corticosteroid-binding globulin. ) today announced that Michael J. Lafitte has been appointed President of the Company's Americas business. Mr. Lafitte has been President of the Institutional & Global Corporate Services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. (Outsourcing) line of business, where he has overseen strong growth for the past two and a half years. In his new role, he succeeds Calvin W. Frese, Jr., who became the Company's Global Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. earlier this year. As President, Americas, Mr. Lafitte will direct all of the Company's business lines and shared services shared services, n.pl the administrative, clinical, or other service functions that are common to two or more hospitals or their health care facilities and used jointly or cooperatively by them. functions in the United States, Canada and Latin America. The Americas is the Company's largest business segment with 2008 revenue of more than $3.2 billion. "Mike is the perfect person to lead our Americas operations to the next level of success," Mr. Frese said. "He is widely respected by our employees and clients alike and is a great leader who lives-out our corporate values." Mr. Lafitte joined CB Richard Ellis in December 2006 with the acquisition of Trammell Crow Company. Since then, he has presided over the Company's Institutional & Global Corporate Services business. Despite the challenges of the economy, the business line has grown into a $1.7 billion annual business and comprised more than 40% of the Company's global revenue for the first six months of 2009. Mr. Lafitte began his real estate career in 1984 as a leasing agent at Lincoln Property Company and over the past 25 years, has held leadership and production roles at Bear Stearns Real Estate Group and PREMISYS (a former affiliate of Prudential Life Insurance Company) prior to joining Trammell Crow Company in 1997. Mr. Lafitte holds a Bachelor's degree in Business Administration from the University of Texas and a Master's in Business Administration from Southern Methodist University Southern Methodist University, at Dallas, Tex.; United Methodist; coeducational; chartered 1911. The school's facilities include laboratories for electron microscopy and stable isotopes, a museum of paleontology, and a graduate research center. . He resides in Dallas, Texas with his wife and three children. About CB Richard Ellis CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2008 revenue). The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 "best in class" company and Fortune 100 fastest growing company two years in a row. Please visit our Web site at www.cbre.com. |
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