CBRE appointed Russell Hodges as senior managing director and Houston market leader to replace Peter Mainguy, who had held the position since 2020.

Mainguy “stepped down from the role to pursue other opportunities,” according to a press release from CBRE. Mainguy did not immediately respond to a request for comment.

Hodges has 19 years of brokerage experience, most recently leading CBRE’s Houston investor business. He will now oversee business operations for the Houston market, which includes New Orleans and Baton Rouge, Louisiana.

He will also drive growth strategies for all advisory service lines, including leasing, sales, debt and structured finance, valuation and property management.

“Russell is a long-standing leader in Houston's commercial real estate market, possessing a deep understanding of the area’s unique culture, clientele, and community,” CBRE West Region Advisory Services Group President Brooke Armstrong said in the release.

CBRE promoted Hodges to senior managing director of investor services in its Houston office in January 2024. He replaced Mark Taylor, who retired after 40 years.

“Russell is highly regarded by his peers and clients for his deep market knowledge and his strong leadership abilities,” Mainguy said at the time.

Mainguy became CBRE’s Houston market leader in January 2020, when he was promoted from his role of managing director for occupier services in Houston. He had 14 years of experience at the time.

CBRE’s leadership change comes amid a flurry of market head replacements in the CRE industry. In Houston, Ronnie Deyo will take over as JLL’s market leader on Jan. 1 as Dan Bellow plans to step back, and Clint Bawcom succeeded Kevin Roberts as Transwestern’s market leader.

Cushman & Wakefield named new market leaders in Atlanta, Minneapolis and St. Paul, and Seattle and Portland amid a hiring surge in September.