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CB Richard Ellis Group's Management Presents At Barclays 2012 Global Financial Services Conference - Conference Call Transcript

Stocks in this article: CBG

So this firm is a fairly simple business. Our vision, which we put forth to our employees in the market back in 1992, has not changed by a single word, which makes our job fairly easy, and that is to be the preeminent vertically-integrated, globally capable commercial real estate services firm, and simply put all that means is we want to be number one in every business line we have, every major geography within which we operate. We want to be number one with our own people – no joint ventures, no alliances – and we want to be global, and those particular objectives within the vision statement, all of those have now been achieved as of last year.

Our strategy is also fairly simple. We want to make sure that whether you are an occupier of commercial real estate or an investor-owner of commercial real estate, we provide all the services you need within those assets, and if we can do that, there’s no room for a competitor to chisel off one of our good clients. And we do – every one of these services on the wheel, which you can’t read, are all the things that occupiers and owners need, and we are, as I said, number one in every single one of them.

Our objectives for the business are also very simple. As I mentioned, we want to be the leader in every world city, the leader in every major business line, highest quality brand, people – we’re a services business, that’s very important. By the way, we have, we believe, the lowest attrition rate in our sales force globally of any firm in the industry. We believe we’ve had that position for over a decade. We have great culture at CBRE. It’s one of the reasons people come and stay with us. And finally and most important to me, it’s all about the scoreboard. I’ve tried to make it the hallmark of my leadership of the firm that we will always lead the industry in margins, and we always have. Every quarter since I’ve been here, that’s been true.

Read the rest of this transcript for free on seekingalpha.com

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