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Bigger not better for these brokers: in merger's wake, Trammel Crow alums exit CBRE.

Publication: Los Angeles Business Journal
Publication Date: 01-OCT-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Bigger not better for these brokers: in merger's wake, Trammel Crow alums exit CBRE.(REAL ESTATE)(Trammell Crow Co.)(CB Richard Ellis Inc.)

Article Excerpt
CB Richard Ellis Group Inc.'s $2.2 billion acquisition of Trammell Crow Co. in December has shaken up the local brokerage industry, with about three quarters of Trammell Crow's Southern California brokers leaving the company.

As with any significant merger there is attrition, but because of specific redundancies between the two companies and the competitive nature of the business, only about 15 or 20 of Trammell Crow's 60 local brokers have stayed, according to executives familiar with the fallout.

"There were several outstanding senior agents at Trammell Crow who simply weren't going to be the go-to people at CB Richard Ellis," said Bill Boyd, executive vice president at competitor Grubb & Ellis Co. and managing director of the firm's...

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