Change is coming to one of commercial real estate giant JLL’s subsidiaries.
LaSalle Investment Management announced this week that CEO Jeff Jacobson will step down effective Jan. 1.
Jacobson, who has been in the CEO role for the past 14 years, will remain with the company as chairman through June. He’ll be replaced by Mark Gabbay, who currently serves as CEO and chief investment officer for LaSalle Asia Pacific.
As global CEO, Gabbay will be in charge of LaSalle’s strategic direction and growth. He will report to Christian Ulbrich, president and CEO of JLL.
Gabbay joined LaSalle in 2010 as chief investment officer for Asia Pacific, and became CEO of that division in 2015. His previous experience includes heading up the asset finance division at Nomura, and working on the leadership team of the Asia Pacific global real estate group at Lehman Brothers.
Keith Fujii, LaSalle’s Japan CEO, will succeed Gabbay as Asia Pacific CEO.
LaSalle is the asset management arm of JLL, and manages approximately $65 billion in both private and public real estate assets, according to the company.