/24-7PressRelease/ - HONG KONG, July 19, 2008 - Craig is currently the Managing Director of the CB Richard Ellis office in Las Vegas and will be taking up the new role of Managing Director, Hong Kong with effect from 18 August 2008. In his new capacity, Craig will focus upon the development and expansion of the business operations of CB Richard Ellis in Hong Kong, in order to ensure that the Company is delivering high quality services across all sectors of the real estate market and that the business continues to evolve to meet the changing needs of clients going forward.
Craig has long tenure with CB Richard Ellis. He joined the Company in 1998 and has held various management positions over the past ten years, including the role of Managing Director in Adelaide, San Diego and Las Vegas where he oversaw business performance, business development and recruitment in relation to leasing, investment sales, property management, asset services, project management, capital markets and valuation services. Craig also currently sits on the Executive Board of the United States Western Division where he is responsible for deriving strategic goals and plans for CB Richard Ellis.
Commenting on the new appointment, Chris Brooke, President and Chief Executive Officer, Greater China, said, "I am delighted to have such a high calibre senior executive taking up the leadership of our office in Hong Kong. Given his history with CB Richard Ellis, Craig has an excellent network of relationships with both regional and international clients as well as with colleagues throughout our global platform. This will be extremely valuable as we look to expand our market share in Hong Kong both via the sourcing of additional business locally as well as through the securing of mandates derived from regional and international client relationships."
Yu Kam-hung, Senior Managing Director, Hong Kong, Southern China and Taiwan, said, "Craig has accumulated significant management and operational experience in his previous Managing Director roles. Prior to being with CB Richard Ellis, Craig lived and worked in Malaysia and therefore has both experience within, and a good understanding of, the real estate market in Asia. This solid knowledge will make him a strong leader and will allow him to provide significant added value to clients of CB Richard Ellis based in Hong Kong."
Craig Shute, Managing Director, Hong Kong said, "I am very excited to take up this challenging position. Hong Kong is one of the world's most dynamic markets where property plays a critical role in driving economic development. Not only will we continue to deliver excellent service offerings to our customers, but will focus on strengthening the capabilities of each business line so as to further enhance our position in the market. We will continue to work closely with our offices across Greater China and internationally to deliver success."
Craig has over 15 years of experience in the real estate industry. He holds a Bachelor of Business Degree in Property from University of South Australia and is a graduate of the Harvard High Potential Leadership Programme.
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 2007 revenue). With over 29,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate offices). 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 is the only commercial real estate services company named one of the 50 "best in class" companies by BusinessWeek, and was also named one of the 100 fastest growing companies by Fortune. Please visit our web site at http://www.cbre.com.
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