CB Richard Appoints Peter Damesick Chief Economist EMEA

London, 8 October 2010 – CB Richard Ellis (CBRE) today announced that Dr Peter Damesick, Head of Research for the United Kingdom, has been named the company’s Chief Economist for Europe, Middle East and Africa (EMEA). In this newly-created position, Peter will provide international market advice to key clients and serve as the EMEA region’s primary spokesperson on macro economic and real estate market issues.

Peter Damesick has been at CBRE for 22 years, was formerly a management consultant and presently directs the company’s research and related consultancy activity with respect to UK markets.

Mike Strong, Chairman, CBRE EMEA, said: “This is great strategic move for Peter and for CBRE. It follows the significant enhancements we have made to our Global Research and Consulting services in recent times and strengthens our ability to service the information and knowledge needs of our global client base.

“This new appointment will allow Peter to spend more time consulting with our key clients across the region, and adds to our strength in providing integrated and international market insight. Peter will also continue with his role as commentator and chief expert on the London market.”

CBRE has been progressively integrating its local and regional research teams to provide a global view for its clients. The team is led by Raymond Torto, CBRE’s Global Chief Economist, and includes Karen Ellzey, CBRE’s Head of Global Consulting and Dr Nick Axford, Senior Managing Director, Global Research and Head of Research for the Asia region.