Property giant CBRE reviews EMEA relationship with FTI

Global real estate powerhouse CBRE is reviewing its 14-year-old relationship with FTI Consulting for PR across EMEA and the UK.

CBRE: The biggest commercial property consultants in the world
CBRE: The biggest commercial property consultants in the world

The firm, which handles real estate services and investment and posted Q1 revenue of $1.9bn in 2014, is down to a shortlist of agencies for the work, with FTI understood to still be in the running.

Growth for the company was particularly strong in the EMEA region, with CBRE pointing to recovering markets as contributing to a sales revenue increase of 61 per cent.

A spokesman for CBRE said of the pitch process: "As part of our philosophy of continuous improvement, we undertake regular reviews of all our agency relationships."

Last month CBRE’s former UK MD Matt Pullen withdrew an employment tribunal claim of potentially more than £19m against his old company. Pullen left CBRE in late 2012 following an allegation of rape and subsequent arrest but no charges were ever brought against him.

Pullen was also reported to have dropped a £200,000 action against FTI and its former corporate communications chairman Tony Danaher for an alleged breach of privacy rights. 

CBRE declined to comment on the case, but a statement made by a CBRE spokesman at the time of the case being dropped read:  

"In respect of the legal proceedings between Matt Pullen, FTI Consulting LLP and Anthony Danaher, these parties confirm that mutually acceptable terms of settlement have been agreed between them, the detail of which they have agreed to keep confidential."

While CBRE stated at the time that it had "made no payment" to Pullen, FTI agreed to pay him damages and costs. It also issued an "unreserved" apology for "an inadvertent mistake which led to the disclosing of details of the claimant’s departure from CBRE".

Danaher, who always defended the allegations against him, did not join in the apology or payment.

He is understood to have left the agency in recent months and has declined to comment. FTI also declined to comment.

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