This seems like an excellent pawn to negotiate with. This person identified something which they value greatly( a new title) which presumably doesn't cost you

This seems like an excellent pawn to negotiate with. This person identified something which they value greatly( a new title) which presumably doesn't cost you anything. Figure out what this is worth to this person, whether its a lower salary, having them put money on the line, etc and give them something that costs you very little, a new title.