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CBRE Group has promoted Jim Reid, the DC-based head of the company’s Eastern division, to COO of the Americas.
Reid has overseen the DC region and other major East Coast markets during his 13 years in charge of the Eastern division. His new responsibilities will include financial and operational management for the brokerage company in the Americas. Reid replaces Steven Swerdlow, a California-based executive who has been promoted to CEO for the Asia Pacific region and will continue to oversee the Western division.
The move is part of a larger restructuring at CBRE, which has seen more power and influence shift to the DC region. CBRE has also created several smaller divisions, which Reid believes will help CBRE with acquisitions, growth and recruiting. [WBJ]
