Editor's Note: This story has been changed from the original to correct a misspelling of Bob Sulentic 's name.

CB Richard Ellis Group Inc. has named Bob Sulentic chief financial officer. He maintains his duties as head of the real estate services company's development services business, the company said Wednesday.

Interim CFO Gil Borok will become executive vice president and chief accounting officer.

Sulentic was previously president of the company's European, Middle East and Asia-Pacific operations. Prior to that he was chief executive of Trammell Crow Co. which was acquired by CBRE in December 2006.

CB Richard Ellis, which has struggled since the downturn in the commercial real estate market, also said it created a new chief investment officer position for Jim Groch. Groch will manage the company's capital structure and balance sheet, plus oversee mergers and acquisitions. He had a similar role at Trammell Crow.

CB Richard Ellis shares were down 2 cents, or less than 1 percent, to $3.41 on the New York Stock Exchange.

For reprint and licensing requests for this article, CLICK HERE.