LaSalle Investment Management Names CEO
- Dec 08, 2020
Mark Gabbay, who is currently CEO & CIO of LaSalle Asia Pacific, will be taking over the role of Jeff Jacobson, LaSalle Global’s CEO.
READ ALSO: Top 20 Commercial Property Owners of 2020
Gabbay joined LaSalle in 2010 as CIO for Asia Pacific and became the region’s CEO in 2015. Now in his new role as LaSalle Global CEO, Gabbay will be responsible for the overall leadership and strategic direction of the company while reporting to Christian Ulbrich, president & CEO of JLL.
Vacating the CEO position, Jacobson will remain active at LaSalle by shifting to a chairman role until at least June 2021 to help with the transition. Jacobson is leaving his post after 14 years, during which he led LaSalle through a major period of expansion, with assets under management growing more than 57 percent, totaling more than $65 billion as of the third quarter of 2020.
Jacobson said in prepared remarks that Gabbay had a track record of outperformance, which has been critical to LaSalle’s success in the Asia Pacific region. The company’s recent activity in the area includes the launch of its LaSalle Japan Property Fund with $560 million in seed money in November 2019. Ulbrich added in his prepared statement that Gabbay will drive the company’s next phase of growth and further enhance LaSalle’s platform.
Changing of the corporate guard
With Gabbay leaving his post in LaSalle’s Asia Pacific division, his two roles of CEO and CIO will be divided between several regional executives. Keith Fujii, who is currently CEO of LaSalle’s Japan division, will become the company’s Asia Pacific CEO, while the Head of Greater China Claire Tang and the Head of Japan Acquisitions Kunihiko Okumura will become co-CIOs of Asia Pacific.
Several other LaSalle execs will be taking on new global roles as part of the company’s focus on worldwide growth. Tim Kessler, who is currently the global head of Corporate Strategy and Development, will become LaSalle’s global chief operating officer. Jon Zehner, global co-head of Client Capital Group, will become the company’s CEO of Global Partner Solutions, while Alok Gaur, also global co-head of Client Capital Group, will become the sole global head of Client Capital Group.