Vincent Clancy
Director at CBRE
Board
About Vincent Clancy
Vincent Clancy (age 60) joined CBRE’s Board in January 2025. He is Board Chair and Chief Executive Officer of Turner & Townsend, a majority‑owned subsidiary of CBRE, and has served as CEO since 2008 and Chair since 2015. He is a Chartered Member of the Royal Institute of Surveyors and holds a B.Sc. in Construction Economics from London South Bank University, with more than 35 years’ experience delivering complex programs across real estate, infrastructure, energy and natural resources .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Turner & Townsend (CBRE majority-owned) | Chief Executive Officer | 2008–present | Led global expansion; expertise in set‑up, procurement and delivery of complex programs |
| Turner & Townsend | Chair of Board | 2015–present | Strategic oversight and governance |
| Turner & Townsend | Head, International Business | Prior to 2008 | Grew international footprint |
| Turner & Townsend | Head, UK Cost Management | Prior to international role | Led cost discipline and project execution |
External Roles
| Organization | Role | Dates | Notes |
|---|---|---|---|
| Construction Leadership Council (UK) | Industry Advisor | Current | Sector policy and best‑practice advisor |
| Royal Institute of Surveyors | Chartered Member | Current | Professional accreditation |
Board Governance
- Independence: Not independent (Board determined all nominees are independent except Messrs. Sulentic and Clancy) .
- Board/Committee assignments: No committee assignments; Board member only .
- Attendance: Board held 8 meetings in 2024; “each incumbent director attended at least 75%” except Clancy who joined in January 2025 (attendance not applicable for FY2024) .
- Executive sessions: Independent directors meet in executive session at each regular Board meeting; led by the Lead Independent Director .
- Lead Independent Director: Shira D. Goodman (since Nov 2023) .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| CBRE Director Fees | $0 | Clancy receives no compensation for his role as a CBRE director |
| Turner & Townsend (2024) – Salary | £591,750 | Paid by majority‑owned subsidiary |
| Turner & Townsend (2024) – Car Allowance | £12,500 | Paid by subsidiary |
| Turner & Townsend (2024) – Pension Contributions | £62,750 | Paid by subsidiary |
| Turner & Townsend (2024) – Total Remuneration | ~£667,000 | Sum of salary, car allowance, pension |
| Turner & Townsend (2024) – Benefits | ~£6,000 | Life insurance, private medical, permanent health insurance |
| CBRE Director Retainer (policy for non‑employee directors; context) | $110,000 cash | Annual retainer (Clancy does not receive as director) |
| CBRE Director RSU (policy for non‑employee directors; context) | $220,000 grant | Annual RSUs (Clancy does not receive as director) |
Performance Compensation
- No performance‑based CBRE director compensation is disclosed for Clancy; Turner & Townsend performance incentive details are not disclosed in the proxy .
Other Directorships & Interlocks
| Company | Type | Role | Notes |
|---|---|---|---|
| — | Public company | — | No current public company boards |
| Turner & Townsend | CBRE majority‑owned subsidiary | CEO & Chair | Executive role at a CBRE subsidiary (interlock within CBRE group) |
Expertise & Qualifications
- Senior leadership across global real estate operations, M&A and risk management; sustainability experience; human capital management .
- Industry advisor (Construction Leadership Council) and Chartered RICS surveyor .
- Deep execution experience on complex, multi‑stakeholder programs across sectors .
Equity Ownership
| Item | Value | Notes |
|---|---|---|
| Beneficial ownership (CBRE Class A) | 0 shares | As of March 24, 2025, Clancy had no reported beneficial ownership |
| % of shares outstanding | 0.0% | Based on 299,856,558 shares outstanding |
| Director RSUs outstanding | None | Non‑employee directors hold RSUs; Clancy is not compensated as a director |
| Options | None disclosed | No options reported |
| Stock ownership guideline | 3x base salary | Applies to Section 16 officers and Mr. Clancy; must retain 75% of net‑after‑tax shares until compliant |
| Hedging/pledging | Prohibited | Company policy prohibits hedging and pledging |
Employment & Contracts
- Executive Directors Service Agreement (April 4, 2008) with Turner & Townsend; Variation of Employment Agreement (July 21, 2021) includes post‑termination confidentiality, non‑competition and non‑solicitation covenants .
- Restrictive Covenant Undertaking with CBRE Titan Acquisition Co. Limited (July 26, 2021) – non‑compete and non‑solicit for 60 months from closing of CBRE’s acquisition of an interest in Turner & Townsend .
Governance Assessment
- Strengths
- Sector‑specific operating expertise in delivering complex programs; adds global operations and risk oversight capability to the Board .
- Formal restrictive covenant framework and clear related‑party policy with Audit Committee oversight help manage conflicts .
- Risks and RED FLAGS
- Non‑independent director due to active CEO/Chair role at CBRE’s majority‑owned subsidiary; inherent related‑party exposure (remuneration paid by subsidiary) .
- Ownership alignment signal: zero CBRE share ownership as of 3/24/2025; while a 3× salary stock ownership guideline applies to Mr. Clancy, compliance status is not disclosed (early tenure may explain timing) .
- No committee assignments (Audit/Comp/Gov) mitigates direct influence on key oversight levers but limits formal Board‑level accountability channels for a non‑independent director .
- Board context signals
- Director compensation for non‑employee directors is heavily equity‑linked (RSUs), but Clancy does not receive CBRE director pay, reducing typical director equity alignment at the parent level .
- Company‑wide governance practices include a strong Lead Independent Director, majority independent Board, executive sessions each meeting, and prohibitions on hedging/pledging, all supportive of investor confidence .
Overall implication: Clancy brings valuable execution expertise from Turner & Townsend, but his non‑independent status and absence of CBRE equity ownership at the parent level are alignment risks to monitor. Audit Committee oversight of related‑party transactions and strict securities policies partially mitigate these concerns .