CBRE has announced that Stephen Hubbard has decided to retire as UK chairman and member of the UK executive committee at the end of this year.
Hubbard will be succeeded by Michael Brodtman, who has been appointed UK chairman with effect January 1 2020.
'Stephen Hubbard has made an outstanding contribution to the ongoing success of our business during a period that has seen incredible change and growth. Over four decades, Stephen has been a trusted advisor to his clients, a fantastic mentor and an inspiration to many. We wish him well for the next chapter of his life,' said Ciaran Bird, divisional president, UK & Ireland, advisory services at CBRE.
Hubbard's retirement marks the close of a 40-year career at CBRE. He joined Richard Ellis in 1976, becoming a partner in 1985, and has served on the UK and European management boards before being appointed to the role of UK chairman in 2014.
Following his retirement from CBRE, Hubbard said he wouled continue to be involved in the property industry through his various appointments including his ongoing positions as chairman of LXI REIT and non-executive director of Workspace Group.
Martin Samworth, group president & CEO, advisory services, APAC/EMEA said: 'I have had the pleasure of working with Stephen for the last 20 years which has been a hugely rewarding experience, both personally and professionally.
'Stephen has been an industry leader for CBRE and involved in many iconic transactions, particularly in London. He will be missed by colleagues and clients, but we wish him the very best for the future.'
Said Hubbard: 'I have had an immensely fulfilling career at the firm and I am very proud to have played a part in building the amazing business CBRE has become. I wish them well for the future.'