Lindsey Caplan, who has spent the past two and a half years leading finance for CBRE's global real estate investments group, has been named the brokerage's new chief accounting officer. And CBRE isn't the only major brokerage changing its top accountant.
Caplan took over the firm's top bookkeeping position this week from Madeleine Barber, who had served as chief accounting officer and deputy chief financial officer. Barber plans to remain at Dallas-based CBRE through Dec. 31, according to a filing made Monday with the Securities and Exchange Commission.
In his new role, Caplan manages and directs all aspects of CBRE’s accounting and controller functions and that of the chief financial officer for the company's corporate segment. Prior to this week, he served as global chief financial officer of CBRE’s real estate investments, or REI, segment that includes CBRE Investment Management and Trammell Crow Co. For REI, he oversaw the finance and reporting functions.
CBRE did not immediately respond to a request for more information about Barber's pending departure.
CBRE rival Cushman & Wakefield also has a change in store for the chief accounting officer position.
Cushman & Wakefield said Len Texter, who serves as global controller, head of investor relations and chief accounting officer, informed the firm he plans to resign from the company effective Sept. 30. Texter plans to depart "in order to pursue a new opportunity," according to a Sept. 1 SEC filing from Cushman & Wakefield.
The brokerage did not provide specifics about Texter's opportunity.
Plans call for Cushman & Wakefield Chief Financial Officer Neil Johnston to add the role of the firm's principal accounting officer upon Texter's departure.
Over at CBRE, the brokerage said Caplan would receive an annual base salary of $460,000. He also will be eligible for an annual target bonus of $460,000, according to the SEC filing.
Starting next year, he will be eligible for an annual stock equity award that would have a target grant date value of $430,000, the firm said in its filing. CBRE said Caplan also would receive a one-time cash promotion award of $100,000.
Caplan joined CBRE from insurance brokerage and risk management firm Marsh in 2006.