Exhibit 99.1
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FOR IMMEDIATE RELEASE
| For further information: Steve Iaco Media 212.984.6535 |
Brad Burke Investors 214.863.3100 |
CBRE Group, Inc. Adds Blake Hutcheson to Board of Directors
Dallas – August 23, 2022 – CBRE Group, Inc. (NYSE:CBRE) today announced that E.M. Blake Hutcheson has been appointed to the company’s Board of Directors, effective September 1, 2022.
Mr. Hutcheson is President and Chief Executive Officer of Ontario Municipal Employees Retirement System (OMERS), one of Canada’s largest defined-benefit pension plans with $120 billion AUM as of year-end 2021.
Mr. Hutcheson brings a strong investment and real estate background to CBRE’s Board. Prior to being named Chief Executive Officer in 2020, he served as OMERS’s President and Chief Pension Officer, with responsibility for the pension business, strategy, communications and public affairs, legal, technology and operations, and asset liability management. Prior to that, he served as President, Chief Executive Officer and Chief Investment Officer of Oxford Properties Group, OMERS’s real estate investment subsidiary with property investments around the world.
Earlier in his career, Mr. Hutcheson was Head of Global Real Estate at Mount Kellett Capital Management, a private equity firm, and Chair and President of CBRE’s operations in Canada and Latin America.
Brandon Boze, CBRE’s Board Chair, said: “Blake is an astute businessman and investor. Our Board will benefit enormously from his varied experience as a real estate investor and operator. We look forward to the strategic thinking and keen insights he will bring to our efforts to drive CBRE’s continued success.”
Mr. Hutcheson said: “I am thrilled to be re-joining CBRE, a company I know intimately both as a client and longtime employee. CBRE is well positioned strategically and operationally to thrive across market cycles, and I look forward to working with my fellow Directors to extend the company’s outstanding track record of growth and excellence in client service.”
Mr. Hutcheson will stand for election at CBRE’s next Annual Stockholder Meeting in Spring 2023. His appointment expands CBRE’s Board to 11 Directors.
He holds an undergraduate degree from the University of Western Ontario, a master’s degree in Real Estate Development from Columbia University and a graduate diploma (with distinction) in International and Comparative Politics from the London School of Economics. He serves on the Board of Algoma Central, an owner/operator of transport vessels, a publicly traded company listed on the Toronto Stock Exchange.