Firstly, is the move from a geographically organised group to functional structure designed to better meet the needs of clients in an increasingly national property market. “This is the best alignment with the needs of our clients who want India-wide representation in the office, industrial, and retail sectors and has proven very successful elsewhere in our organization. Comments Jamie Horne, President of International at Colliers International. “For example, we operate a large and highly successful business in Australia on a similar basis."

The company also plans to split its senior leadership responsibilities to take advantage of the growth opportunities in the current market. Current CEO Akshaya Kumar, will assume the role of Chairman immediately, with a specific focus on strategic initiatives, including major investment transactions, liaison with fund managers, and acquisitions. “The timing of these initiatives is very important relative to our long term success”. Says Mr Kumar. “Three to four years in to this property cycle we have seen rapid growth in the industry and we are witnessing the development of new market segments as well as significant shifts in client needs and expectations. The move to this structure and the division of accountabilities give Colliers International a clear opportunity to capitalise on our existing strengths”.

Joe Verghese, previously an Indian expatriate from Singapore has taken over the role of COO, and will focus on delivering the new operational strategy. His focus on the operations of the business is initially overseeing the reorganisation of the business, including all of the structural changes as well as overseeing a substantial investment in information technology to support the development of consistently high quality services for clients across the country.

Says Chris Nicholl, Managing Director of Emerging Markets. “We are embarking on a lot of positive changes. We have a great deal of faith both in the strategy to separate the focus of the management team  and in the national structure..“ We believe the timing of these changes is ideal, with the run in property market in India over the past few years we have gained considerable insight and feedback into the maturing market.  In light of our expectation that things will continue to be buoyant in the medium term we see that our ability to change now will be a significant factor in our ability to align our services to emerging clients needs in the future”.

For further information please contact:

Chris Nicholl
Managing Director
Emerging Markets
Tel: 65 6223 2323
Email: Chris.Nicholl@colliers.com

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