Daniel Queenan was named CEO, real estate investments, at CBRE, spokesman Steven Iaco said in an email.
The real estate investment business segment includes CBRE Investment Management, the company’s global real assets business, and development business Trammel Crow Co.
He replaces Mike Lafitte, who had dual roles as CEO of both real estate investments and Trammel Crow Co. and will be CEO of Trammel Crow, reporting to Mr. Queenan.
Mr. Queenan, who held the CEO of real estate investments role for CBRE in 2018 and 2019 before becoming CEO of CBRE’s advisory services in January 2020, will be replaced in that latter role by Jack Durburg.
Mr. Durburg, previously CEO of CBRE’s global workplace solutions, will be replaced in that role by Chandra Dhandapani, chief operating officer of global workplace solutions and CBRE’s chief transformation officer.
As of March 31, CBRE Investment Management had $147 billion in assets under management.