Former Lloyds Banking Group property heavyweight Richard Dakin has been appointed managing director of Capital Advisors at CBRE.
The former managing director and head of the corporate real estate business support unit at Lloyds joins CBRE two months after his former employer confirmed he would be leaving the business after 30 years.
Dakin will also join CBRE’s strategy and management boards.
Philip Cropper, the existing managing director of the agent’s Capital Advisors business, will become chairman of the department.
Dakin’s credentials include leading the deleveraging of the Lloyds’ non-core commercial property assets, which reduced from £45bn in 2009 to its current book size of less than £5bn.
Stephen Hubbard, chairman, CBRE UK, said: “Increasingly, we operate in a space where clients need deep financial advice and insight, which is why Richard’s expertise and leadership skills will be invaluable to accelerate our growth into the future. He will have a key role in strengthening our team’s financial expertise and expanding our capability so we meet clients’ needs. We are highly ambitious for what can be achieved as we see clients increasingly turning to us for complex financial solutions combined with our second to none understanding of the property market.”
