Insignia/ESG announces enhancement of European platform.

Insignia/ESG announced the enhancement of its European platform with the expansion of capabilities in Spain, Sweden, Denmark, and Germany.

Augmenting its service lines in key markets, Insignia's European operation -- led by Insignia Richard Ellis in the United Kingdom and Insignia Bourdais in France -- will enable the firm to effectively serve the needs of its global clients.

Insignia's operations in Spain have significantly grown through two strategic initiatives. Thierry Bougeard, formerly vice president at Auguste Thouard, was appointed to head up a new Barcelona office and all transactional services throughout Spain.

Several senior professionals were also recruited to strengthen agency and transactional services, including Christian Menasse to head the retail practice in Madrid, and Thierry Julienne, an investment specialist, also in Madrid. More appointments are planned.

In other developments in Spain, Insignia greatly expanded its capabilities in the consulting arena with the addition of the former Spanish property advisory team of Arthur Andersen, which has joined the firm in Insignia's Madrid office. This group's 18 professionals have been involved in many areas of property consulting, financial, valuation, investment, and asset management services.

The group's accomplished hospitality team will enable Insignia to expand further into the European hotel and leisure markets.

Mikel Echavarren, formerly a partner at Andersen, has been appointed CEO and will head the consulting team.

According to Alan C. Froggatt, chief executive of Insignia in Europe, "The combination of consulting and transactional capabilities will create a distinctive platform for Insignia in Spain, effectively distinguishing us from all of our principal competitors there. Our build-up represents a significant move toward establishing a market-leading operation for real estate financing, lodging and investment services."

Stephen Hubbard, Insignia's deputy chairman in Europe, will also take the role of chairman of Insignia in Spain.

In Sweden, Insignia formed an affiliation with Tufvesson & Partners, a niche institutional investment practice, which will operate out of Stockholm as Insignia Tufvesson.

The firm's immediate expansion plans in Sweden include adding tenant representation cap abilities.

Meanwhile, in Denmark, Insignia formalized its relationship with Copenhagen - based Henrik Cederholm A/S, with whom the firm has successfully collaborated over the past three years.

The unit will operate as Insignia Cederholm and offer an array of capabilities, including investment sales and acquisitions, agency leasing, lodging, development consulting, and residential services.

"Sweden and the other Nordic countries offer diverse investment opportunities, and interest in the region continues to increase," said Froggatt.

In Germany, Insignia will expand its team in Frankfurt with the addition of Peter Pilz as chief executive in October.

Pilz was formerly with fund managers Oppenheim and served as senior director at Jones Lang LaSalle in Germany.

Together with Peter Driessen, chairman of Insignia's Germany operations, he will oversee the expansion of the firm's German operations beyond Frankfurt into other major markets, as part of an initiative to capture the many opportunities available there.

The firm will also seek further strategic affiliations in Central and Eastern Europe.

Commenting on the firm's recent developments throughout Europe, Stephen B. Siegel, chairman and CEO of Insignia/ESG, stated, "We are dedicated to building a truly first-class platform of real estate services throughout Europe, and are confident that our investment and commitment to expanding our presence there will only enhance the levels of service we bring to our clients in Europe and around the world."