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CBRE, which is expected to officially sign its deal for a 60% stake in Turner & Townsend this fall, has brought in an Arcadis veteran to join its project management team.

The US giant is paying £ 960 million for a controlling stake in the 75-year-old British consultant, with the deal closing by the end of this year, possibly as soon as next month.

CBRE has now named Matthew Cutts Head of Investor and Developer Clients in its project management business for the EMEA region.

Cutts, who spent more than 20 years with Arcadis and EC Harris, the company acquired by Arcadis a few years ago, will work with CBRE’s Head of Project Management and Construction Consulting for the EMEA region.

A CBRE spokesperson said, “The hiring is in line with the company’s ambitious growth plans in the project management business and follows the announcement made in July [about T&T]. “

Atkins added, “Investors are responding to complex challenges including the repositioning of Covid-19, ESG goals and changing consumer and user trends. As a result, we expect an increase in project management activities and an increasing demand for CBRE’s integrated services and solutions. We have ambitious growth plans. “

CBRE chief Bob Sulentic explained the decision to spend nearly £ 1 billion on T&T: “This is a transformative transaction for our project management business in terms of both breadth and scope of capabilities.

“We see significant long-term growth opportunities in project management, fueled by increasing public and private infrastructure investments and the pursuit of a low-carbon global economy.”

In its latest results, CBRE, which is listed on the New York Stock Exchange, had sales of 23.8 billion in 2020, the $ 1.3 billion posted the previous year.

T&T was expected to publish its results for the year ending April last month. These are expected to have a turnover of £ 665m and a profit of over £ 120m.