CB Richard Ellis vice chairman Joseph Harbert has joined rival brokerage Cushman & Wakefield, where he will become COO of the firm’s New York region.

"Joe is one of the most respected individuals in the industry today and we’re delighted to welcome him to Cushman & Wakefield," said Bruce Mosler, president and CEO-elect at Cushman & Wakefield. Harbert will report to Tony Marano, COO of U.S. operations for Cushman & Wakefield.

A CBRE spokesman said the firm is currently "realigning" the management of its Manhattan brokerage staff. The firm plans to announce several changes within the next few weeks, according to the spokesman.

Harbert worked at Insignia/ESG since 1987, and was promoted to senior managing director and COO of Insignia’s New York metro region in 2003, when CBRE bought Insignia.

"Joe Harbert was a leader at Insignia/ESG, one of the most knowledgeable people there," said one Manhattan brokerage source. "That being said, people have a lot of allegiance to Joe — the man has plenty of admirers at CB Richard Ellis."