Jones Lang Makes Senior Management Changes
- Sep 10, 2008
Jones Lang LaSalle has reshuffled some of its regional senior management, effective early next year. Alastair Hughes, currently CEO for EMEA (Europe, Middle East and Africa), has been named CEO for Asia Pacific, succeeding Peter Barge, who will become chairman for Asia Pacific. At the same, Christian Ulbrich, who currently leads the firm in Germany, will become CEO for EMEA and join the company’s Global Executive Committee. “The move is part of an orderly plan for executive succession,” a spokesperson for Jones Lang LaSalle told CPN. “We’re able to do that because of a deep talent pool, and smooth management transitions are critical to take advantage of rapid economic growth in many parts of the world.” Hughes joined the Jones Lang Wootton graduate training scheme in 1988 and working for the company in various capacities before he became CEO for EMEA in 2005 and a member of the Global Executive Committee. In the three years to 2007, profits for the region rose more than threefold and revenues nearly doubled at EMEA. During this time, according to the company, Jones Lang LaSalle’s established western European businesses increased their market positions, while its Russian and Central and Eastern European businesses and its new offices in the Middle East experienced rapid growth. Christian Ulbrich joined the firm in early 2005 after 20 years in real estate banking and finance. As leader of Jones Lang LaSalle in Germany, revenues have more than tripled, and it has been transformed from losses into a profitable operation. Four new offices have been added since 2007, bringing the total in Germany to 10. Under Peter Barge’s management, the Asia Pacific regional business has tripled revenue in the last five years, while profits grew at an average annual rate of over 100 percent, and staff numbers doubled to 16,000. The company has been especially keen on developing its operations in India and China. In his new role as chairman for Asia Pacific, Barge will provide oversight of global business line development, while also continuing as chairman of Jones Lang LaSalle Hotels. He has previously stated his intention to retire in 2010.