JLL Bolsters Capital Markets Platform with Addition of Three Industry Veterans
- Mar 18, 2010
March 18, 2010
By Suzann D. Silverman, Executive Editor and Allison Landa, News Editor
Jones Lang LaSalle has made a strong play to grow its global capital markets platform by hiring away from CB Richard Ellis a trio of major industry experts: Thomas Fish, Michael Melody, and Thomas Melody. The three will partner with Americas Capital Markets president Jay Koster and the Capital Markets leadership team to drive JLL’s expansion of its overall Americas Capital Markets business along with leading its Americas Real Estate Investment Banking business.
Along with colleague Brian Stoffers, Michael and Thomas Melody built up the family business, Houston-based real estate investment bank L.J. Melody & Co., until its 1996 acquisition by CBRE Commercial. That same year, Fish joined the firm. Ultimately CBRE merged its mortgage-banking business with its investment sales arm to form its CBRE Capital Markets (REIB) business, which was headed by Stoffers and Greg Vorwaller.
The REIB business currently has a foothold in Chicago, Los Angeles, New York and Washington D.C. Fish and both Melodys will emphasize the creation of a fully integrated investment sales and REIB business across the Americas. They will be based in JLL’s Houston office.
“In the past six months, Jones Lang LaSalle has moved aggressively to build an industry-leading Americas Capital Markets business, which will complement our strong Capital Markets business throughout the EMEA and Asia Pacific regions and our dominant global Hotels Capital Markets business,” Koster said when announcing the news. “Building a dominant REIB business is a critical component of our overall Americas Capital Markets strategy.”
The three bring more than 75 years of experience between them, as well as the completion of more than $20 billion in debt and equity transactions over the past decade. Each has served as vice chairmen of CBRE and individually held various positions during their CBRE tenure, including Co-CEOs of the Debt and Equity Finance Group, President of CBRE Capital Corp., and head of the Southwest Region for the Debt and Equity Finance Group.
“The addition of Tom, Mike and Tom is a huge coup for our Americas Capital Markets business and our clients who know the talent these gentlemen possess,” JLL Houston market director Dan Bellow as the appointments were announced. “They have been consistent top revenue producers every year for well over a decade, and have a deep history of driving and leading businesses.”
It was unclear why the trio chose to leave CBRE. JLL officials had not responded to a request for comment by the time of publication.