CBRE Promotes Japan CEO Ben Duncan to Head of North Asia

Real estate agency CBRE continued to restructure its Asia Pacific operations this week by promoting its Japan CEO to the newly created role of President, North Asia. The move will be effective from January 1st, 2015.

In his new position, Duncan will be responsible for CBRE’s operations in China, Hong Kong, Japan, Korea, Taiwan and Macau and will report directly to the US-based group’s APAC CEO, Danny Queenan. The former JLL and DTZ executive will retain his role as President and CEO of CBRE Japan, although he will be relocating to Hong Kong sometime in early 2015, the company said in a statement this week.

Under the new structure, CBRE’s Japan COO Yoshiro Watanabe; China President Ivan Poon; head of Hong Kong, Macau and Taiwan, Craig Shute; and Steve Kim, Managing Director for South Korea, will all be reporting to Duncan starting from the beginning of the new year.

Big in Japan

Duncan took over CBRE Japan in January 2010 after joining the company’s operation there in 2004. He has been widely credited with successfully managing the acquisition and assimilation of a large Japanese commercial agency which has helped CBRE rapidly grow its Japan business into one of its few Asian success stories in recent years.

“Ben, alongside his leadership team, has been instrumental in the successful integration of our Japan business since it was fully acquired by CBRE in 2010,” Queenan noted.

Now CBRE will be hoping that Duncan can replicate his magic in other markets, such as China, where the agency has struggled to keep pace with competitor JLL.

Duncan has previous experience in Greater China, having worked in Hong Kong from 1996 to 2004, first with DTZ and later as a National Director with JLL. On the mainland, the 18-year Asian real estate veteran will face the challenge of turning around an organization of more than 1000 people that has struggled to achieve profitability even at the height of China’s more than decade-long real estate boom.

Duncan Appointment Latest Senior Level CBRE Move

The creation of the North Asia President role is the latest in a series of the senior level appointments at CBRE since the US agency sent Danny Queenan over from its headquarters to become its APAC COO in August 2013.

Since that time, Queenan has moved up to CEO, after former APAC CEO and Chairman Rob Blain shifted to a new role as Executive Chairman in March this year. CBRE’s most recent announcement made no mention of Blain or any changes to his role.

Just last month, the company also shook up its Capital Markets division, which advises on investment transactions, by bringing over former Colliers Hong Kong boss Richard Kirke to run the department regionally.