CBRE poaches chief economist from Grosvenor

Richard Barkham joins the global firm’s research team in a newly-created position after eight years at the London-based property firm.

Global property services firm CBRE has appointed Richard Barkham as its global chief economist, a newly-created research position.

He will be based in London and report to CBRE’s global head of research Nick Axford. Barkham will work with CBRE’s senior executives to develop the firm’s analysis of global economic, financial and property market trends, focusing on both publishing articles regarding that research and speaking about it publicly.

“[Barkham] is regularly sought out for his views on commercial real estate, and his insights on the interaction between macroeconomic trends, strategy and real estate market conditions are second to none,” Axford said in the statement. “I look forward to working with Richard and our global Research team to advance CBRE’s reputation as the foremost authority on commercial real estate worldwide.”

Barkham joins CBRE from London-based property firm Grosvenor Group, where he served as group research director since 2006. He also served as a non-executive director of Grosvenor Fund Management since 2011, working on investment strategy, new fund development, marketing and client relations. He first joined Grosvenor in 2000 as the research director for Britain and Ireland.

Coincidentally, Barkham’s replacement at Grosvenor is Graham Parry, who was previously head of research for Britain and Ireland. Parry joined Grosvenor in 2003 as head of research for Australia, before moving to London in 2011. His previous experience includes working for Leman Brothers in Tokyo as an economist and the Reserve Bank of Australia as a senior research analyst.

“I am sorry that we are saying goodbye to Richard, who has made such an excellent contribution to Grosvenor for more than 14 years,” said Mark Preston, chief executive of Grosvenor, “but I am pleased we are able to offer Graham the opportunity to continue to develop his career with us.  He is highly talented and ideally qualified to succeed Richard in this role.”

In terms of 2013 revenue, CBRE is the world’s largest commercial real estate services and investment firm, with 350 offices worldwide. Grosvenor’s assets under management total £11.8 billion (€14.5 billion; $19.9 billion) across its direct, indirect and funds management businesses.